Switzerland-headquartered private bank Union Bancaire Privée (UBP), has appointed Mohamed Shoukry as the CEO of its Dubai-based subsidiary, UBP Middle East, pending regulatory approval.
The leadership shift responds to UBP’s swift growth in the Middle East, marked by substantial inflows from UHWNIs, institutional clients and family offices in recent years.
Before joining UBP, Shoukry held senior positions at Citi, Mashreq Bank, National Bank of Abu Dhabi and most recently served as the head of multinational coverage for CEEMEA at J.P. Morgan.
In his new role, Mohamed Shoukry replaces Mohamed Hamed Abdellatif, who has served as the CEO of UBP Middle East since 2015. Starting January 1, 2024, Mohamed Abdellatif will take on the position of co-head of the Middle East and Africa region, sharing responsibilities with Walid Shash, who has been overseeing UBP’s MEA strategy since 2005.
Commenting on the leadership change, Nadège Lesueur-Pène, UBP’s head of wealth management developing markets, stated that the appointments would help “steer UBP through its next phase of development and maintain its double-digit growth in the region in the coming years.”
Shoukry added: “The Middle East holds immense potential and I am confident that UBP, thanks to its family-owned structure, its very agile business model and the depth of its expertise and knowledge of the region, is ideally positioned to seize the numerous opportunities ahead.”
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