Abu dhabi: Arab Bank Switzerland, the Geneva-headquartered Swiss private banking group, has announced the launch of ABS (Middle East) Limited in the Dubai International Financial Centre (DIFC), solidifying its long-term dedication to the region and the UAE's status as a pivotal hub for financial innovation.
According to Emirates News Agency, this move represents a strategic step in Arab Bank Switzerland's plan to establish a robust and scalable presence in the Middle East. The bank aims to leverage the ABS Group network to bring its services closer to entrepreneurs, family offices, and high-net-worth individuals in the region, a relationship that dates back to the 1960s.
Mohammad Abdulrahman Alhawi, Undersecretary, Ministry of Investment, remarked on the expansion, highlighting how it underscores the UAE's continued appeal to established international financial institutions. He noted that the launch of ABS (Middle East) Limited enhances the UAE's financial ecosystem and reinforces its role as a trusted hub for wealth management and investment.
Arif Amiri, Chief Executive Officer of DIFC Authority, welcomed Arab Bank Switzerland to DIFC, emphasizing the firm's Swiss private banking heritage and strong regional ties. He noted that with over 290 banks and financial institutions, DIFC continues to draw leading global players seeking a stable, well-regulated platform for regional and international growth.
Wahbe Tamari, Chairman of the Boards of Arab Bank Switzerland and ABS (Middle East) Limited, expressed the strategic importance of the UAE as a hub for ABS Group's future wealth management business. He emphasized the platform's design for long-term development supported by strong governance and experienced leadership.
To further the bank's long-term ambitions in the Middle East, Samir Atitallah has been appointed CEO of ABS (Middle East) Limited. Jean-Pierre Daccache, Deputy CEO of Arab Bank Switzerland, cited Samir Atitallah's deep regional expertise and leadership experience as central to building a high-quality platform with a regional identity.
Samir Atitallah shared his vision of building a distinctive wealth management firm that blends Swiss private banking heritage with an understanding of Middle Eastern clients. He aims to establish a firm recognized for its quality people, strong culture, and deep client relationships.
A key strategic appointment is Michel Sarfati as Head of Family Offices, who brings extensive experience from First Abu Dhabi Bank in setting up family office segments. His role is pivotal in enhancing ABS (Middle East) Limited's capability in serving prominent regional families and global private banks.
This launch is part of Arab Bank Switzerland's broader UAE growth strategy, operating from DIFC under the regulation of the Dubai Financial Services Authority.