HSBC boosts its Middle East business with new appointments from Credit Suisse By Investing.com

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HSBC boosts its Middle East business with new appointments from Credit Suisse

Published Oct 02, 2023 08:28

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HSBC boosts its Middle East business with new appointments from Credit Suisse

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HSBC has announced a series of key appointments to strengthen its Global Private Banking operations in the Middle East and North Africa (MENA), Switzerland, Israel, and Qatar. The recent hires are part of a broader strategy to expand HSBC's ultra-high-net-worth (UHNW) client coverage in these regions.

Aladdin Hangari, a 20-year veteran of Credit Suisse (SIX:CSGN), has been appointed as the Head of Global Private Banking MENA, succeeding Sobhi Tabbara who will be leaving the bank in January 2024. Hangari previously served as CEO of Credit Suisse (Qatar LLC) and CEO of Aventicum Capital Management Holding AG. He will work in tandem with Tabbara until January to ensure a seamless transition.

Tabbara, who led HSBC's Global Private Banking in the MENA region since 2012, is credited with driving the expansion of UHNW coverage in key markets including Saudi Arabia, United Arab Emirates, Qatar, Kuwait, and Bahrain.

HSBC is also bolstering its presence in Qatar with the appointment of Patrick D'Amico as Global Market Head. D'Amico, along with Christian Hiller, Thomas Schaad, and Simon Aeschlimann, all join HSBC from Credit Suisse as Relationship Managers. They will be based in Switzerland and integrated with HSBC's established Qatari desk onshore in Qatar.

In Switzerland, Kouroche Achtari has been appointed as Market Head for International Switzerland. Achtari also joins from Credit Suisse and his appointment is part of HSBC's strategy to enhance its services for Swiss-based UHNW clients and family offices with an international footprint.

HSBC has also expanded its team in Israel with the appointment of Roy Mironi as the new Desk Head. Mironi joins HSBC from Deutsche Bank (ETR:DBKGn) and will report to Oren Ben Ishay, Market Head of Israel & Head of Tel Aviv Rep Office.

Gabriel Castello, Regional Head of Global Private Banking EMEA and CEO of the Swiss Private Bank, welcomed the new hires and praised Tabbara's contribution to HSBC, stating his leadership and vision have been instrumental in building out their impressive portfolio across the Middle East.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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