Standard Chartered Global Private Bank has announced a 20% expansion of its frontline private banking team in the UAE. This development is part of the bank's strategy to increase investment in its affluent business over the next five years, with a particular focus on the UAE due to its strategic importance as a financial hub.
Vinay Gandhi, Global Head of GSAC and Regional Head of AMEE at Standard Chartered Global Private Bank, stated: “Expanding our private banking team in the UAE reflects our confidence in the country’s unique role as a global wealth hub. With its strategic location, world-class infrastructure, and forward-looking economic policies, the UAE continues to attract HNW and UHNW clients seeking stability and growth. This growing demand for bespoke private banking solutions is driving our commitment to further enhance our capabilities in the UAE, positioning us as a trusted partner that seamlessly connects clients to global markets and investment opportunities while helping them protect, manage, and grow their wealth.”
Gandhi further commented: “The UAE continues to be a priority market for Standard Chartered, with the bank actively investing in talent and resources to meet the needs of its high and ultra-high-net-worth clients. This latest expansion reflects the bank’s strategy to remain at the forefront of private banking, leveraging its global network and local expertise to provide unparalleled services to this growing client segment.”
As part of this initiative, several key appointments have been made within Standard Chartered's UAE operations. These include Momin Jaffar as Managing Director and Group Head; Hamza Zahid and Zein Chaudhry as Executive Directors; Ahmed Anabtawi as Executive Director – Team Leader; Mahmoud Elsgaei as Director; Alasdair Scarr as Executive Director; Samar Zarifeh as Director; and Hamsah Fadhil also joining as Director.
These appointments will report directly to Nash Mithani, Market Head for Private Banking in the UAE.
The expansion is indicative of Standard Chartered's dedication to offering tailored solutions for high-net-worth individuals (HNW) and ultra-high-net-worth individuals (UHNW), ensuring they have access to global markets while managing their wealth effectively.
For more details or inquiries regarding this announcement, contact Wasim Benkhadra at Standard Chartered.