Swiss private banking and wealth management group Reyl & Cie is building its recently launched Dubai entity.

Reyl Finance (MEA), part of Reyl & Cie, has welcomed Loulwa Bakr as an independent board member.

In October last year, Reyl received regulatory approval to carry out asset management and corporate advisory activities in Dubai. It also provides wealth management services in the city.

Bakr, a Saudi Arabian national, was previously head of investment banking for Saudi Arabia at Credit Suisse, which she joined in 2007. Reyl said in a statement that Bakr is considered one of few women in the region who have built a successful track record in corporate finance and investment banking.

She will join Dominique Paladini, Teofilo Masera, Dominique Lecoq and Pasha Bakhtiar on the board and will help guide Reyl's expansion strategy in Dubai.

“What truly sets Reyl apart is our ability to incorporate the entrepreneurial dimension of our clients in relation to the overall management of their assets and to structure financial solutions accordingly,” said managing director Pasha Bakhtiar.

“Having developed a deep understanding in these matters with a valuable local insight, Ms Bakr will undoubtedly play an integral role in implementing our growth strategy.”

Reyl managed assets of over SFr11 billion ($10.9 billion) worldwide as of the end of last year.