The bank, which is headquartered in Switzerland, said it is building a platform for long-term development.

Arab Bank Switzerland, the Geneva-headquartered Swiss private banking group, has launched its ABS (Middle East) Ltd business in the Dubai International Financial Centre (main picture).

The group said the launch marks the next step in its strategy to “build a robust and scalable presence in the Middle East.”

The new operation brings the bank closer to the entrepreneurs, family offices and high net worth individuals it has served across the region since the 1960s, ABS said in a statement yesterday. 

"We see the UAE as a strategic hub for the future of the wealth management business of ABS Group. We are building a platform designed for long-term development, supported by strong governance, experienced leadership and the values that have defined Arab Bank Switzerland for decades,” Wahbe Tamari, chairman of the boards of Arab Bank Switzerland and ABS (Middle East), said.

As part of the launch, Samir Atitallah (pictured below) has been appointed CEO of ABS (Middle East), the group said. Previously, he was CEO for Mirabaud Middle East Ltd, based in Dubai, according to his LinkedIn profile.

Samir Atitallah

One of the first main appointments is that of Michel Sarfati, who is joining ABS (Middle East) as head of family offices, previously served at First Abu Dhabi Bank where he set up the family office segment within investment banking.

Arab Bank Switzerland, established in 1962, has acquired businesses including that of Swiss bank Gonet in 2022. Today, ABS Group has almost $25 billion in AuM.