Stock aerial Dubai skyline
The UAE is set to attract more millionaires this year as full-time residents, according to some estimates. The region's private banks are waiting with heightened expectations. Image Credit: AFP

Dubai: The private banking side of J.P. Morgan has made two senior appointments to its Middle East and North Africa advisor team. These appointments are aimed at growing relationships with ultra-high net worth (UHNW) families and individuals and meeting the firm’s ambitious growth plan across the Gulf, the US bank said in a statement.

Several of the world’s leading investment and private banking operators too have been beefing up their Middle East focussed operations over the recent past. Based in Geneva, Yazeed Alsubeaei and Ghadeer Yusuf will ‘help drive the bank’s business strategy and growth advising UHNW individuals and families on effectively protecting, managing, and growing their wealth’. They will report to Managing Director Shawn Mofidi.

“These bankers bring a deep understanding of the challenges facing families across the Middle East, extensive background in relationship management, business acumen and perspective, and experience – key points of distinction for our clients in times of volatility and uncertainty,” said Tara Smyth, region head of Middle East, North Africa, and Turkey.

“Yazeed and Ghadeer will integrate the firm’s worldwide wealth management, goals-based expertise into localized advice for the most financially sophisticated clients and prospects in the region.” Image Credit: Supplied

Prior to joining J.P. Morgan Private Bank, Alsubeaei held senior roles at Credit Suisse, the Saudi British Bank and Riyad Bank providing financial planning and modelling; investment management; risk-tolerance assessments; and financial advice on pensions, trusts and family governance for families and individuals across the GCC.

Yusuf had put in 13 years at Citi Private Bank, where she served most recently as senior private banker.