Dubai: The current head of the bank’s UAE operations, Abdulfattah Sharaf has been appointed Chairman of HSBC Bank Middle East (HBME). He will take on the new role from May 1.
His former post will go to Mohamed Al Marzooqi, as the UK bank sees opportunities accelerate growth in the Middle East, North Africa and Türkiye (MENAT) region.
Abdulfattah Sharaf had been the HSBC UAE CEO for 13 years, a role he combined with oversight of the bank’s operations in Algeria, Bahrain and Kuwait as Head of International since 2017.
Al Marzooqi has been a career HSBC banker, which has seen him since 2002 assume roles at the retail, commercial, corporate and investment banking operations. Until the latest promotion, he had been overseeing HSBC’s most important client relationships in the country, as Head of Global Banking, UAE.
Sharaf, who has been with HSBC since 2008, succeeds Samir Assaf, who will remain a non-executive director of the HBME Board and also non-executive Chairman of the Board of HSBC Middle East Holdings BV, the holding company of HBME.
“These appointments reflect the strength and depth of HSBC’s executive team in the UAE and the deep experience that both Abdulfattah and Mohamed have in supporting clients to expand internationally,” said Assaf. “They build on the role HSBC has played in supporting growth and development since we became the first bank to open for business in the UAE almost 80 years ago.”