Union Bancaire Privee opens office in Saudi Arabia

Core Viewpoint - Union Bancaire Privee (UBP) is expanding its operations in the Middle East by opening a new office in Riyadh, Saudi Arabia, and appointing Mishal Alhawas as the chief executive for its Saudi operations [1][2]. Group 1: Company Expansion - UBP has established a new office in Riyadh to enhance its presence in the region [1]. - The bank has been active in the Middle East for over 20 years, initially operating from Switzerland before opening an office in Dubai in 2011 [2]. - The Riyadh office is part of UBP's strategy to grow its footprint in the Gulf Cooperation Council (GCC) region [3]. Group 2: Leadership Appointment - Mishal Alhawas has been appointed as the chief executive and head of advising for UBP's Saudi Arabian operations, bringing over 25 years of experience in wealth and asset management [1][2]. - Alhawas previously held significant positions at Alawwal Invest and Sidra Capital before joining UBP in June 2025 [1]. Group 3: Client Assets and Services - UBP oversees client assets exceeding SFr15 billion (approximately $18 billion) in the Middle East [3]. - The bank holds a license from the Capital Market Authority (CMA) of Saudi Arabia to provide securities advice, operating independently under local regulations [3]. - UBP aims to deliver high-caliber, bespoke advice and services to its clients in Saudi Arabia [4]. Group 4: Competitive Landscape - The opening of UBP's Riyadh office aligns with the trend of other international banks, such as Goldman Sachs, expanding their presence in Saudi Arabia [4].