UBS expands ME wealth management team with 10 hires

UBS announced on Tuesday the strengthening of its wealth management team in the Middle East with the addition of 10 new hires, including six from HSBC and four from Deutsche Bank, as the Swiss bank aims to capitalise on the influx of expatriates and the growing number of wealthy individuals in the region.

UBS stated it is reorganising its regional operations and enhancing local teams to better serve the increasingly diverse investor base attracted by the Middle East’s politically neutral stance, ease of business, favourable time zones, and tax-free benefits.

Attribution: Reuters.