Indosuez Wealth Management snapped up a high-ranking Barclays private banker to spur its growth in the Gulf.
Crédit Agricole Swiss private banking unit Indosuez hired French banker Haidar Hammoud as marketing manager for the Persian Gulf, it said in a statement. Hammoud was previously with Barclays, where he has overseen the British bank's business in the United Arab Emirates and Oman for the last five years.
Hammoud is a valuable hire for Indosuez given his experience as a leader and with ultra-rich clients and big institutions, the private bank's head in the Middle East and Africa, François Farjallah, said.
Gulf Expansion
Hammoud will be tasked with helping Indosuez expand in the region, especially in the upper tier of wealth categories. Before Barclays, Hammoud worked in the UAE for Standard Chartered, Citi Private Bank, and Deutsche Bank. Previously, he was in Paris for BNP Paribas' corporate and investment bank.
«His expertise will allow us to further develop our wealth management services for clients in the Arabian Gulf, as this market offers a high growth opportunity given the positive wealth creation seen amongst high net worth and ultra-high net worth individuals.»
