HSBC Private Bank has announced the appointment of Feras Al Jaramani as the Head of UAE Market, assuming full responsibility for the bank’s private banking operations nationwide.
This new role marks a significant expansion from his previous position as Head of the UAE Market for Arab and Emirati Clients, consolidating HSBC’s UAE private banking teams under unified leadership as the firm aims to establish itself as the premier private bank in the Middle East.
Wealth Management Focus
The appointment aligns with HSBC’s objectives for its UAE wealth hub strategy, enhancing the International Wealth and Premier Banking (IWPB) division’s aspirations to position itself as the leading international wealth player in the UAE.
The division aims to cater to a diverse client base, from affluent individuals to ultra-high-net-worth families and entrepreneurs, in a market that is critical for HSBC due to its record net inflows of millionaires.
Priorities for Al Jarmani
Feras Al Jarmani brings with him 25 years of experience in financial services, 13 of which were spent at HSBC, where he focused on servicing sovereign and corporate clients in the UAE. Al Jarmani also worked at Mashreq as executive vice president of corporate and investment banking.
The Head of HSBC Private Bank for the MENA region stated that Al Jarmani’s extensive expertise and understanding of the local market is crucial for meeting client needs effectively.
The restructuring is viewed as a pivotal in advancing HSBC’s mission to become the leading private banking institution in the region, focusing on wealth management and client support.
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