UBS Loses Middle East Wealth Bankers It Hired Two Years Ago

UBS Group AG has lost several senior wealth management bankers in the Middle East less than two years after hiring them, indicating the intense level of competition for talent in the region.

The departures include several bankers that UBS recruited from HSBC Holdings Plc in 2024, such as Rana Al Emam and Ali Khunji, people familiar with the matter said. The bank had hired Al Emam to grow its business in Abu Dhabi, and Khunji to run its wealth unit in Bahrain and the Eastern Province of Saudi Arabia.