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UBS to Hire Ex-Morgan Stanley Banker for Richest Saudis

  • Gabriel Aractingi will join UBS from Bahrain’s Investcorp
  • Swiss bank is seeking to compete with U.S. competitors
Images Of UBS AG Asia-Pacific Corporate Client-Solutions Head Matthew Grounds And Team As It Leads Regional Equity Underwriting

Photographer: Brendon Thorne/Bloomberg

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UBS Group AG hired a former Morgan Stanley banker to run its ultra-high net worth business in Saudi Arabia as the bank consolidates its wealth management operations, according to a person familiar with the matter.

Gabriel Aractingi will be based in Geneva and joins from Bahrain’s Investcorp Bank BSC where he’d been head of its Saudi Arabia business since May, said the person, asking not to be identified because the move isn’t public. The Zurich-based bank confirmed his appointment.