People Moves

ABN AMRO Private Banking Boosts Middle East Operations

Wendy Spires Group Deputy Editor London 28 November 2011

ABN AMRO Private Banking Boosts Middle East Operations

ABN AMRO Private Banking has bolstered its Middle East business with the appointment of two senior private bankers in the Dubai International Financial Centre.

Fares Bdeir and Husseyn Smili previously worked for Merrill Lynch Wealth Management in Dubai for five years, serving high net worth clients. In their new roles the pair report to Yazeed Adas, market manager for the Middle East team.

Rob Broedelet, country executive of ABN AMRO Bank, UAE, said that the bank has ambitious plans for the UAE and broader Middle East region.

In other expansionary moves, last month it emerged that ABN AMRO plans to double the number of its private bankers in Asia over the next five years.

The Dutch bank wants at least 200 private bankers across its offices in Singapore and Hong Kong by 2016, up from about 100 today.

Growing its private banking operations in Asia is a top priority for the group, as it is the region with the highest wealth growth. The firm says it will focus on organic growth.

With support staff included, the bank employs about 400 people in Asia, 235 of whom are in Singapore and the remainder in Hong Kong.  

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