HSBC Private Bank has bolstered its Egyptian team with the addition of Fatima El Ouarti as a director in London.

El Ouarti joins from Goldman Sachs, where she was a relationship manager focusing on the Egyptian market, and her hire is the latest in a series of senior appointments to HSBC’s MENA team; towards the end of last year Hossam Al Saady was appointed head of the London-based Saudi Arabia team, while Anthony Hingley and Hicham Najem joined as directors in the bank’s investment advisory group to the London MENA desk.

El Ouarti's hire is spurred by the bank's belief that the rapid expansion of the Egyptian market in recent years is set to continue, with economic growth led by factors such as increasing consumption and investments and high commodity prices. Supporting these factors, according to the bank, are strong demographics, a stable banking sector and a pro-reform government that will facilitate international cooperation.

“Many Egyptian individuals have strong links with the UK and travel here regularly, making London a strategic centre to cater for Egyptian clients' needs,” said Bassem Snaije, head of the London MENA team.

“Fatima will bring extensive market knowledge and experience to our team, and will be a valuable part of our expansion in the country.”

In her new role El Ouarti will report to Fouad Batshon, head of Egypt within the bank’s MENA team.