The Swiss-based private banking arm of HSBC has hired several Credit Suisse bankers to expand its Middle East business.
HSBC appoints Aladdin Hangari as head of global private banking for the Middle East and North Africa (MENA), according to a statement. He succeeds Sobhi Tabbara, who is leaving the bank in January to pursue new opportunities.
Tabbara has led the region since 2012 in the business with ultra-high-net-worth (UHNW) clients in markets including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait and Bahrain. Tabbara and Hangari will work together as MENA co-heads until January during the transition.
Qatar Desk Additions
Hangari joins HSBC from Credit Suisse, where he spent two decades, most recently as CEO of its Qatar branch and CEO of Aventicum Capital Management Holding.
Patrick D'Amico has been appointed Global Market head of Qatar. Christian Hiller, Thomas Schaad, and Simon Aeschlimann also join the Qatar team from Credit Suisse as relationship managers. They'll be based in Switzerland and will work with HSBC's Qatar desk.
Expanding Business with Swiss Super-Rich
In addition, Kouroche Achtari has been appointed market manager for international clients in Switzerland. He, too, was previously at Credit Suisse.
With these moves, HSBC aims to strengthen its offering to Swiss-based UHNW clients and family offices with an international presence.
Also joining HSBC as the new desk head Israel is Roy Mironi from Deutsche Bank, who reports to Oren Ben Ishay, head of Markets Israel and the Tel Aviv office.
