Bank Syz names new managing partner and head of Middle East.

Bank Syz has hired ex-Goldman Sachs Gabriel Aractingi as managing partner and head of Middle East, as the Swiss bank eyes expansion in Turkey, Saudi Arabia, and the UAE. 

The appointment follows a series of hires as Bank Syz broadens its global footprint and enhances its diverse private wealth management offering. Other firms such as Swiss private bank Lombard Odier have also been strengthening their presence in the region, seeing the UAE as one of the fastest growing business regions. See here. 

Aractingi has a track record in wealth management for increasing business growth and delivering institutional-quality relationship management, Bank Syz said in a statement. In line with the family's long-term vision for the bank, he is joining as an equity partner, aligning the business model with the family's, senior management’s and clients' interests.

In his previous role as managing director and head of Middle East PWM at Goldman Sachs, Aractingi drove the firm's wealth management ambitions in the region. He developed and executed a MENA market strategy, resulting in business growth. Additionally, he assembled and led a diverse senior team of bankers across Dubai, Geneva, and London, the firm continued.

Previously, Aractingi was managing director and head of Global Family Office for the Middle East and Africa at UBS, where he held global revenue and P&L accountability for providing client services to billionaires and sophisticated family offices, the firm said. Before Goldman Sachs and UBS, he worked at Investcorp and Morgan Stanley.

The appointment follows a series of key hires at Syz. The bank said it had bolstered its senior management bench by appointing Dominik Staffelbach as head of Switzerland to lead its domestic expansion strategy and, more recently, former Pictet executive board member Philippe Turrian joined Bank Syz as head of client solutions, marketing, and communication. 

"Gabriel is an outstanding addition to Bank Syz, as he brings more than 25 years’ experience of working across different cultures and regulatory environments, driving revenues and achieving exceptional results for leading names in global wealth management,” Nicolas Syz, head of private banking at Bank Syz said.

“His market knowhow, experience, client-oriented mindset, and results-driven approach will be pivotal to expanding our services in the Middle East. A first step as we continue to make milestone hires to build our presence in this region, while strengthening our client-facing teams across all regions,” Syz continued.

Aractingi added: “The region is one of the world's most exciting and dynamic wealth hubs, and there is a unique opportunity for Bank Syz, and the wider group, to support more entrepreneurs and high net worth individuals in achieving their wealth management goals."

The Syz Group is a family owned and managed Swiss financial group focused on long-term investment performance, robust risk management, and personal service for clients. It was co-founded in 1996 by Eric Syz who still leads the firm alongside his two sons and a team of experts.