Arab Bank Switzerland Opens New DIFC Office to Strengthen Dubai Presence
DUBAI — Arab Bank Switzerland has opened its first permanent office in the UAE, launching ABS (Middle East) Limited in the Dubai International Financial Centre (DIFC).
The Geneva‑headquartered private bank, which has served Middle Eastern clients since 1962, said the move reflects growing demand from wealthy regional clients for Swiss private banking expertise closer to home. “Dubai was a natural step for us,” CEO Samir Atitallah told Arabian Business. “Clients today are becoming more sophisticated. They expect a local presence alongside the Swiss expertise that we’ve always provided”.
The bank combines three core businesses: wealth management, commodity trade finance and digital assets — having been one of the first Swiss private banks to offer digital asset services in 2019. Wealth management remains its fastest‑growing division.
Samir Atitallah has been appointed CEO of the DIFC operation to lead the bank’s regional expansion. An experienced board includes Elissar Farah Antonios, former Citi UAE CEO and regional MENA head.
The bank is targeting clients with investable assets above $10 million, though Atitallah noted relationships often begin much earlier. “Our greatest added value comes once clients reach around $10m to $15m in assets because that’s when we can really advise on diversification, succession planning and investment allocation”.
Wealthy Gulf investors, he added, are moving beyond cash and regional real estate toward broader diversification across asset classes and geographies. “We’re seeing much greater interest in private equity, private debt and digital assets”.
Following the Dubai launch, the bank is also preparing to establish a presence in Abu Dhabi after receiving regulatory approval for an advisory entity focused on digital assets.
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