The new entity, ABS (Middle East) Ltd, serves as a strategic pivot for the Swiss private banking group, which has maintained client relationships in the region since the 1960s. Chairman Wahbe Tamari described the UAE as the central hub for the bank's future wealth management trajectory, emphasizing that the firm is prioritizing long-term structural development over quick expansion.
To lead this transition, the bank appointed Samir Atitallah as CEO of the Middle East division. Atitallah brings experience from his previous role as CEO for Mirabaud Middle East Ltd. The firm also secured Michel Sarfati to lead the family office segment. Sarfati joins from First Abu Dhabi Bank, where he was responsible for establishing the bank's family office practice within its investment banking arm. This expansion follows a period of consolidation for the parent group, which acquired the Swiss bank Gonet in 2022.
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