UBS aims to expand in Middle East

An internal note from UBS said it will open a new wealth management office in Dubai which also covers Oman and Kuwait and will have a team sales dedicated to seizing growth opportunities in Middle East.

“The new office will take over the markets on which we will increasingly focus from this position from now on in then, “said the memo, seen by Reuters.

The memo added that George El Khoury, a former Credit Suisse banker, will head the office in Dubai, and Raoul Rahmy, who worked at Barclays and Credit Suisse, will manage sales in the Dubai financial free zone.

At the beginning of questyear, USB appointed the banker senior HSBC Tarek Eido as Head of Wealth Management in Qatar as part of plans to open an asset management office in Doha.

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