The Swiss wealth manager has tapped a senior banker to oversee critical growth in the Kingdom.

UBS has appointed Schady Saeb as managing director and new desk head for Saudi Arabia. He assumed the post on 1 March and will be based at the bank’s headquarters in Geneva, Switzerland. He joins from Citibank, and brings more than 20 years’ experience covering the Saudi market.

The Swiss wealth manager said that Saeb will “play a key role in our ambitious growth plans for this strategic market.” In the new role, he will oversee a team of senior advisors managing some of the most demanding clients and families in the Kingdom.

"We are delighted that a senior banker of Schady's calibre is joining UBS. We are very confident that our clients and the entire team will value his deep market knowledge and successful track record," said Ali Janoudi, head of wealth management for Central and Eastern Europe, the Middle East & Africa.

Saeb will be reporting directly to UBS's head of wealth management in Saudi Arabia, Abdallah Najia, who added: "This is a demonstration of how important the Saudi business is for UBS. We will continue to hire the best talent in the industry, to maintain our leading position."

Saeb holds a bachelor's of business administration (finance) from Mercer University in the US.