The European private banking house, which has been present in the Middle East region for more than a decade, said it intends to continue growing, adding significant hires when required.

Two senior Pictet bankers have joined Edmond de Rothschild as the European private banking house broadens its offering in the Middle East.

The blue-blooded house has appointed Saman Habibian and Manuel Sturm.

Saman Habibian and Manuel Sturm joined the firm on 1 April 2022 as market leader Middle East and Africa and chief operating officer for MENA, respectively.

Habibian was head of Middle East at Pictet in Zurich. Prior to joining the Swiss firm in 2019, he worked for Julius Baer from 2010, notably as head of GCC International, then successively as CEO Julius Baer Bahrain and deputy global head for Middle East and Africa.

Sturm was chief of staff for the Middle East and Africa region at Pictet in Zurich. Prior to that, he was head of the business management of the emerging markets region team at Julius Baer.

The firm said it has “cultivated solid relationships throughout the Middle East over the past ten years” and that hiring “well-known professionals” is part of its development strategy.

“The group will focus on the quality of its services and its principled investment offer that reflects the needs of clients in the region with notably a very significant range of investments in private equity and real estate,” it said in a statement. 

“These hires will allow us to expand our services to clients in the booming Middle East market,” Michel Longhini, CEO of Private Banking, said. He also noted that both appointees have more than 20 years of experience in the industry.

Edmond de Rothschild had nearly SFr178 billion in assets under management as of 31 December 2021, 2,500 employees and 29 locations worldwide.