Based on the strong growth in the Middle East, Geneva private bank Union Bancaire Privée is reshuffling its regional management team. It has recruited support from U.S. bank J.P. Morgan.
At the start of 2024, Geneva’s Union Bancaire Privée (UBP) appointed Mohamed Shoukry (image below) as the new CEO of UBP Middle East, their subsidiary company located in Dubai, as announced by the bank on Thursday.
Shoukry has gained more than two decades of experience in banking in both the Middle East and Northern Africa. Before he joined UBP, he was in management positions at Citi, Mashreq, the National Bank of Abu Dhabi, and most recently at J.P. Morgan as head of multinational coverage for the CEEMEA region.
Rapid Growth
He is successor to Mohamed Hamed Abdellatif, who started working at the bank in 2012 and has been CEO of UBP Middle East since 2015. Since the beginning of 2024, he has held the role of co-head of the Middle East and Africa (MEA) region alongside Walid Shash as further information reveals. Shash has been responsible for the MEA strategy at the bank since 2005.
The change in management is evidently a reaction to the rapid growth of UBP in the Middle East – the bank now has assets of more than $12 billion, $4.5 billion of which is from Dubai.
More Than 40 Specialists on Site
UBP has been active in the Middle East for more than 20 years and has had a presence in the region since 2012. The bank’s commitment to the Middle East is reflected in its branch in Dubai, which is located in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA). There, the bank has a team of over 40 specialists, including client account managers and investment advisers.
