Middle East's best bank for wealth management 2020: UBS
Awards for Excellence 2020
“During the first quarter our assets increased by 15% due to net new money, transaction revenues are up year over year 55%, our lending share has grown 25% compared to a year ago and our costs are down 1%,” says Ali Janoudi, head of Middle East and Africa for wealth management at UBS.
As a result, the contribution to the bank’s profits coming from the Middle East and Africa region has grown to more than 20%. The region is already well staffed, with close to 300 team members worldwide dedicated to the Middle East, as well as 80 people on the ground, and hiring is continuing throughout 2020.
But it’s not just UBS’s growth that wins it the Euromoney award for best bank for wealth management in the Middle East this year, but rather how it has committed to the region in all aspects of its business.
Since March, when Covid-19 began to spread around the world, the bank has been offering webcasts from its chief investment office and multiple daily research updates – including coverage of real estate and Middle Eastern bond issuers.