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Architect of UBS’s Middle East business appears in Lombard Odier

Architect of UBS’s Middle East business appears in Lombard Odier

Last summer, the regional head of UBS in the Middle East had to make room for a team from Credit Suisse at the big bank. Now this heavyweight also finds his way into Lombard Odier’s private bank He has experience.

Lombard Odier increasingly became the main beneficiary of the merger of major banks. As can be seen from the bank’s internal letter: Geneva House has Ali Janoudi – Appointment as head of the “New Markets” region, effective April 1, 2024.

Another coup

In this role, he will be a member of the Private Bank’s Private Client Executive Committee and will report to the Managing Partner Frederick Rochat. replace Arnaud Leclerc, Who helped build the group’s business in the Middle East for 17 years. Leclercq will remain at the institute and look after strategic clients.

Janudi’s commitment represents another coup for Geneva – and once again a bitter one for UBS. The Lebanese-born Frenchman had built relationships with oil billionaires in the Middle East for the largest Swiss bank and was most recently responsible for the region and Africa across the group.

UBS should be on the Middle East’s books

The blowouts came last July: he was replaced at the merged UBS by the head of the successful and controversial Middle East bank Credit Suisse (CS). Bruno from here. Now Janodi has definitely turned his back on his longtime employer.

It made sense for UBS to review the books back in October in private banking in the region: so it had to be satisfied with the role of chairman while… Niels Zelkens He has been appointed Chief Operating Officer of the Asset Management business in the Middle East.

Centrifugal forces were released

This created a buzz for the Global Asset Management (GWM) division at UBS, where he was head of the division Iqbal Khan And the former CS team Benjamin Cavalli Trying to implement the new promise of “The Power of Wealth Management”.

Once again, Lombard-Odier now takes advantage of the centrifugal forces of this integral and the end of the CS. This is how the people of Geneva managed, among other things Sergey Fehr, Former Head of Private Banking at CS Switzerland, and former Chief Investment Officer at CS Michael Strobeck And finally Sabine Heller Wayne, appointed regional director for UBS in Zurich.

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