Monday 12 February 2018

UBS to Hire Ex-Morgan Stanley Banker for Richest Saudis - Bloomberg

UBS to Hire Ex-Morgan Stanley Banker for Richest Saudis - Bloomberg:

"UBS Group AG hired a former Morgan Stanley banker to run its ultra-high net worth business in Saudi Arabia as the bank consolidates its wealth management operations, according to a person familiar with the matter.

Gabriel Aractingi will be based in Geneva and joins from Bahrain’s Investcorp Bank BSC where he’d been head of its Saudi Arabia business since May, said the person, asking not to be identified because the move isn’t public. The Zurich-based bank confirmed his appointment.

Aractingi left his role as Morgan Stanley’s CEO in Saudi Arabia in August 2016 after six years with the U.S. lender. Yasser Bajsair will replace him as Investcorp’s head in the kingdom, another person familiar with the matter said."



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