Riyadh – Sharikat Mubasher: Union Bancaire Privée (UBP), one of the world’s largest family-owned private banks based in Geneva, officially opened a new office in Riyadh, strengthening its presence in Saudi Arabia and advancing its long-term regional expansion strategy.

As part of the move, UBP appointed Mishal Alhawas as CEO and Head of Advising for Saudi Arabia, as per an official press release. Based in Riyadh, Alhawas will lead local operations, client relations, and partnerships, aligning the bank’s services with Saudi Arabia’s Vision 2030. He brings more than 25 years of experience in wealth and asset management, having previously held leadership roles at Alawwal Invest and Sidra Capital.

Mohamed Abdellatif, Co-Head of Middle East and Africa at UBP, said Saudi Arabia is a key market for the bank, adding that the new office marks an important milestone in expanding its Gulf Cooperation Council (GCC) footprint.

Alhawas said he looked forward to strengthening relationships with Saudi clients and supporting UBP’s growth through tailored wealth management solutions.

UBP has been active in the Middle East for over two decades, first serving clients from Switzerland before opening its Dubai International Financial Centre office in 2011. The bank manages over CHF 15 billion in assets for clients in the region and plans to further support private clients, family offices, and institutions through its new Saudi base.