Switzerland $211 Billion Private Bank Union Bancaire Privée (UBP) Opens Office in Saudi Arabia Riyadh & Appoints Mishal Al-Hawas as CEO & Head of Advising for Saudi Arabia, 25 Years of Asset & Wealth Management Experience Including at Sidra Capital & Alawwal Invest and Held Senior Roles Including as Head of Asset Management
6th November | Hong Kong
Switzerland private bank Union Bancaire Privée (UBP) with $211 billion AUM has opened an office in Saudi Arabia Riyadh & appoints Mishal Al-Hawas as CEO & Head of Advising for Saudi Arabia. Mishal Al-Hawas has 25 years of asset & wealth management experience including at Sidra Capital & Alawwal Invest and held senior roles including as Head of Asset Management. Announcement (4/11/25): “Union Bancaire Privée, UBP SA (“UBP”), one of the world’s largest family-owned private banks headquartered in Geneva, Switzerland, has officially opened an office in Riyadh, marking a key milestone in the Bank’s long-term regional growth strategy and deepening its commitment to the Saudi market. As part of this strategic expansion, UBP has appointed Mishal Alhawas as CEO and Head of Advising for Saudi Arabia. Based in Riyadh, Mishal will oversee UBP’s operations in the Kingdom, driving local client engagement, expanding partnerships, and delivering valuable wealth management solutions aligned with Saudi Arabia’s Vision 2030. Mishal brings over 25 years of expertise in Wealth and Asset Management. Before joining UBP in June 2025, he served as Head of Asset Management at Alawwal Invest and Managing Director of the Investment Placement Division at Sidra Capital. His leadership and in-depth knowledge of the Saudi financial sector will play a central role in UBP’s continued growth in the market. UBP has been active in the Middle East for over 20 years, initially covering the region from Switzerland before establishing its UAE office in the Dubai International Financial Center in 2011. The Bank now has Approximately 100 professionals worldwide and over 40 professionals on the ground that manage more than CHF 15 billion in assets for clients in the Middle East. The opening of the Riyadh office builds on this legacy, reinforcing UBP’s ambition to support private clients, family offices, and institutions across the region with best-in-class advisory and investment solutions tailored to both local and global needs.”
“ Switzerland $211 Billion Private Bank Union Bancaire Privée (UBP) Opens Office in Saudi Arabia Riyadh & Appoints Mishal Al-Hawas as CEO & Head of Advising for Saudi Arabia, 25 Years of Asset & Wealth Management Experience Including at Sidra Capital & Alawwal Invest and Held Senior Roles Including as Head of Asset Management “
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Mohamed Abdellatif, Co-Head of Middle East and Africa at UBP: “The opening of our Riyadh office represents a significant step forward in our presence across the GCC. Saudi Arabia is a strategic market for us and our clients and, with Mishal leading the way locally, we are confident in our ability to deliver the high-calibre, bespoke advice and service our clients expect.
Mishal Alhawas: “I’m honoured to join UBP at such a pivotal moment in its regional expansion. I look forward to building trusted relationships with clients in the Kingdom and contributing to the Bank’s growth agenda through world-class wealth management services.”
Union Bancaire Privée (UBP) – Headquartered in Geneva and with more than 30 offices worldwide, UBP is one of the world’s largest family-owned private banks, focused exclusively on wealth and asset management for private and institutional clients. UBP manages CHF 171.7 billion in client assets and is one of the best-capitalised banks in its sector, with strong financial foundations and a robust balance sheet (all figures as at 30 June 2025).
Switzerland $211 Billion Private Bank Union Bancaire Privée (UBP) Opens Office in Saudi Arabia Riyadh & Appoints Mishal Al-Hawas as CEO & Head of Advising for Saudi Arabia, 25 Years of Asset & Wealth Management Experience Including at Sidra Capital & Alawwal Invest and Held Senior Roles Including as Head of Asset Management
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