Two years ago, Goldman nabbed a Middle East specialist from UBS. Now the poacher has become the poached, as the banker joins Geneva-based Syz.
Bank Syz has recruited Gabriel Aractingi to bolster its business in the Middle East, according to an emailed announcement from the family-owned institution Monday.
Aractingi will head the bank's regional operations from Geneva, with a focus on expansion in Saudi Arabia, the United Arab Emirates, and Turkey, joining as an equity partner, which shows how much value Syz places in him.
UBS to Goldman Sachs
Aractingi can look back on a long career in the region's business with the super-rich. For three years, he led the Middle East and Africa offshoot of the then-billionaire Global Family Office unit of UBS. In 2021, he moved to private banking at Goldman Sachs in Switzerland, advancing to co-head the Middle East and North Africa (Mena) business with Stefan Bollinger.
A mere two years later he has found a new home. «I look forward to using my experience in business development, client relations, and team management to expand Bank Syz's client base in the Middle East,» said.
With changes in the geopolitical landscape and high oil prices, the Middle East is once again attractive for private bankers, making well-connected people like Aractingi in demand.
