UBS taps Al Zaouk to lead wealth management franchise in Saudi

UBS has hired a team of 10 people to lead the growth of its wealth management franchise in Saudi Arabia, Bahrain, and Abu Dhabi.

Bassel Al Zaouk (LinkedIn) has left Deutsche Bank to become CEO for Saudi Arabia at UBS Global Wealth Management, based in Riyadh, according to a UBS press release. Al Zaouk was most recently CEO and chief country officer for Deutsche.

ALSO- Ali Khunji (Linkedin) has left HSBC (where he led wealth and personal banking in Bahrain) to lead the UBS’ wealth management business in the Kingdom’s Eastern Province and in Bahrain.

AND- Rana Al Emam (Linkedin) is also leaving HSBC to join UBS to focus on the bank’s wealth business in Abu Dhabi. She is currently HSBC’s head of private banking in Abu Dhabi.