"Arab Bank – Switzerland" Opens an office in "Dubai International Financial"

DUBAI, 30 JUNE / WAM / Arab Bank – Switzerland, the Swiss banking group specializing in private banking services based in Geneva, which today manages assets worth approximately $25 billion, announced the launch of “Arab Bank Switzerland – Middle East Limited” in the Dubai International Financial Centre.

According to a press release issued today, this launch represents a strategic step within the bank’s endeavors to enhance its institutional presence in the Middle East and build an expandable platform, benefiting from the Arab Bank Group’s network – Switzerland and its regional and international expertise. This trend also reinforces the bank’s proximity to entrepreneurs, family offices, and high-net-worth individuals whom it has served since the 1960s in the region.

His Excellency Mohammed Abdul Rahman Al-Hawi, Undersecretary of the Ministry of Investment, said that the bank’s expansion in the UAE reflects the country’s continued ability to attract well-established international financial institutions, which it sees as a platform for long-term regional growth. The launch of “Arab Bank Switzerland – Middle East” contributes to enhancing the depth of the financial services system in the UAE and consolidating its position as a reliable center for wealth management, investment and cross-border business. It also embodies the continued confidence placed by international institutions in the country’s regulatory environment, its interconnection with regional and international markets, etc. It is full of competencies and experiences, and has a long-term economic vision.

For his part, His Excellency Arif Amiri, CEO of the Dubai International Financial Center Authority, said that the bank’s long heritage in the field of private banking services in Switzerland, in addition to its close connection to the region, contributes to enhancing the depth and diversity of the center’s growing wealth and asset management system.

He added that with more than 290 banks and financial institutions operating within the center, the Dubai International Financial Center continues to attract major international institutions looking for a stable and organized platform that allows them to access growth opportunities at the regional and international levels, expressing his aspiration to support the expansion plans of Arab Bank – Switzerland and its contribution to the continued development of the financial services scene in the region.

For his part, Wahba Tamari, Chairman of the Board of Directors of Arab Bank – Switzerland and Chairman of the Board of Directors of Arab Bank Switzerland – Middle East Limited, said that the bank views the UAE as a strategic center for the future of the group’s wealth management business, and work is underway to build an institutional platform prepared for sustainable growth in the long term, based on solid governance and experienced leadership, and on the values ​​that have distinguished the bank over decades.

In support of the bank’s long-term ambitions in the Middle East, Samir Atiyatallah was appointed CEO of Arab Bank Switzerland – Middle East Limited.

Jean-Pierre Daccache, Executive Vice President of Arab Bank – Switzerland, said: “The appointment of Samir Atiyatallah as CEO of the bank is a pivotal element in our ambition to develop a high-quality banking platform with a solid regional identity, supported by the global expertise and international capabilities of the group.”

In turn, Samir Atiyatallah said, “The bank’s ambition goes beyond just building a regional presence, as we seek to establish a banking institution distinguished by the quality of its staff, the strength of its institutional culture, and the depth of its relationships with clients. Our goal is to build a leading wealth management company that combines the ancient heritage and discipline that characterizes Swiss private banking services, and a deep understanding of the needs of families, entrepreneurs, and investors who contribute to shaping the future of the Middle East.

As part of the first strategic appointments, Michel Sarfaty joined the company as Head of the Family Offices Sector. Sarfaty previously held leadership positions at First Abu Dhabi Bank, where he established the Family Offices sector within investment banking services, after assuming leadership of the global private banking and family offices businesses within global markets.

The bank operates from the Dubai International Financial Center under a Category 3C license issued by the Dubai Financial Services Authority, and is subject to its regulatory supervision.

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