In line with a number of firms that have been increasing their presence in Dubai and neighbouring Abu Dhabi, Union Bancaire Privée has strengthened its presence in the Middle East with senior hires.

Geneva-headquartered private bank Union Bancaire Privée (UBP) has appointed Fahd Iqbal (pictured) as head of investment services, Dubai, alongside Joy Chammas and Mohammed Zaheer as market heads, Middle East, with immediate effect.

Iqbal has joined UBP from UBS, where he was chief investment officer (CIO) Middle East. Prior to UBS, he held similar roles at Credit Suisse, EFG Hermes, and Deutsche Bank. He will lead on embedding the global investment committee’s investment approach locally, based in Dubai. He reports to Arfat Qayyum, senior executive officer of the UBP Dubai office, the firm said in a statement.

“His depth of experience across global markets and his ability to translate investment insights into clear, client-relevant guidance will be a strong addition to our value-proposition in the Middle East,” Qayyum said. “Fahd will play an important role in reinforcing our local investment services and ensuring we continue to benefit from the full support and expertise of our head office.”

Other recent appointments in the territory include Chammas as market head, Middle East. With private banking experience, Chammas will be responsible for deepening client relationships and supporting growth across the Middle East, the firm continued.

Zaheer has also been appointed market head, Middle East. Since joining UBP in 2015, he has overseen a diversified client portfolio. His work has included supporting complex client arrangements across jurisdictions and client transitions following UBP’s buyout of Coutts International.

“This investment in talent reflects our ongoing development of our Middle East platform and our focus on providing dedicated, on-the-ground coverage to clients across the region,” Mohamed Abdellatif, co-head of Middle East and Africa (MEA), said.

UBP has been active in the Middle East for over 20 years, initially covering the region from Switzerland before establishing its UAE office in the Dubai International Financial Centre (DIFC) in 2011. After the opening of its Riyadh office in 2025, the bank now has about 100 professionals worldwide and over 40 professionals on the ground who manage more than SFr24 billion ($31 billion) in assets for clients in the Middle East and it has SFr171.7 billion in client assets.

A number of firms such as KKR, a New York headquartered investment firm, and Zurich-headquartered private bank UBS have bolstered their presence in the Middle East, exploiting the rising level of demand for wealth management. See more here.