• Samir Atitallah appointed CEO to lead the Bank's DIFC operation and support regional growth ambitions
  • Experienced Board bringing together leading banking figures including Elissar Farah Antonios, former Citi UAE CEO and regional MENA Head

Dubai - Arab Bank Switzerland, the Geneva-headquartered Swiss private banking group, announces the launch of ABS (Middle East) Limited in Dubai International Financial Centre (DIFC), deepening its long-term commitment to the region and to the UAE as a leading hub for financial innovation.

The launch marks the next step in the Arab Bank Switzerland's strategy to build a robust and scalable presence in the Middle East leveraging the ABS Group network by bringing the Bank closer to the entrepreneurs, family offices and high-net-worth individuals it has served across the region since the 1960s.

Commenting on the launch, H.E. Mohammad Abdulrahman Alhawi, Undersecretary, UAE Ministry of Investment, said: “Arab Bank Switzerland’s expansion into the UAE reflects the country's continued ability to attract established international financial institutions that see it as a platform for long-term regional growth. The launch of ABS (Middle East) Limited adds further weight to the UAE’s financial services ecosystem and reinforces our position as a trusted hub for wealth management, investment and cross-border business. It also reflects the confidence global institutions continue to place in the UAE’s regulatory environment, connectivity, deep pool of talent and expertise, and long-term economic vision.”

Welcoming Arab Bank Switzerland to DIFC, His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority, said: “We are pleased to welcome Arab Bank Switzerland to DIFC as it establishes its presence in Dubai to serve clients across the Middle East. The firm’s long-standing heritage in Swiss private banking, combined with its strong ties to the region, adds further depth to DIFC’s growing wealth and asset management ecosystem. With over 290 banks and financial institutions operating in the Centre, DIFC continues to attract leading global players seeking a stable, well-regulated platform to access regional and international growth opportunities. We look forward to supporting Arab Bank Switzerland’s expansion and its contribution to the continued development of the region’s financial services landscape.”

Wahbe Tamari, Chairman of the Boards of Arab Bank Switzerland and of ABS (Middle East) Limited, commented: "We see the UAE as a strategic hub for the future of the wealth management business of ABS Group. We are building a platform designed for long-term development, supported by strong governance, experienced leadership and the values that have defined Arab Bank Switzerland for decades. The calibre of the individuals joining the Board and leadership team reflects the importance we attach to this project and our confidence in the future of wealth management in the region."

To support the Bank’s long-term ambitions in the Middle East, Samir Atitallah has been appointed Chief Executive Officer of ABS (Middle East) Limited.

Jean-Pierre Daccache, Deputy CEO of Arab Bank Switzerland, explained: “To lead the strategic development of the Bank in the region, we are pleased to appoint Samir Atitallah as Chief Executive Officer of ABS Middle East. Samir brings deep regional expertise, strong leadership experience within the Swiss private banking industry and a proven ability to build long-term relationships. His appointment is central to our ambition to build a high-quality platform with a strong regional identity, backed by the full expertise and international capabilities of the ABS Group.”

Looking ahead to the next phase of growth, Samir Atitallah, CEO of ABS (Middle East) Limited, added: “Our ambition goes beyond building a regional presence. We are building an institution defined by the quality of its people, the strength of its culture and the depth of its client relationships. Our objective is to establish a distinctive wealth management firm recognised for combining the heritage and discipline of Swiss private banking with a genuine understanding of the families, entrepreneurs and investors who are shaping the future of the Middle East.”

One of the first strategic appointments is Michel Sarfati, who joins ABS (Middle East) Limited as Head of Family Offices. Michel previously served at First Abu Dhabi Bank where he set-up the Family Office segment within Investment Banking after heading Global Private Banks and Family Offices Sales within Global Markets. He is bringing extensive experience working with prominent regional families, global private banks and family office professionals across the region and internationally.

The launch forms part of Arab Bank Switzerland's broader UAE growth strategy. The Bank operates from the DIFC regulated by the Dubai Financial Services Authority.

Founded in 1962, Arab Bank Switzerland has built a strong reputation serving entrepreneurs, family offices and high-net-worth individuals across the Middle East and international markets. This announcement follows a period of significant growth and acquisitions for the Group, including Gonet in 2022, a historic Swiss private bank founded in 1845. Today, the ABS Group has close to USD 25 billion in assets under management and occupies a distinctive position within the private banking landscape, combining Swiss private banking heritage with longstanding ties to the Middle East, deep regional expertise and broader capabilities across wealth management, corporate & trade finance and digital assets.

Sherine Omarq

Senior Consultant, Strategic Communications

FTI Consulting

+971 56 534 0030 M

Sherine.omar@fticonsulting.com

1501 Burj Daman Building | DIFC

Dubai, UAE

www.fticonsulting.com

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