Standard Chartered Global Private Bank announced the expansion of its frontline private banking team by 20% in the UAE. This move underscores the Bank’s unwavering commitment to supporting the growing demand for bespoke private banking solutions in one of the world’s most prominent financial hubs.
The investment in the private banking business in the UAE is part of Standard Chartered’s broader strategy to double its investment in the consistently fast-growing and high-returning affluent business over the next five years, with the UAE playing a pivotal role in these efforts. As a gateway to international markets and a hub for innovation, the UAE offers unparalleled opportunities for clients seeking stability and global connectivity.
Commenting on the appointments, Vinay Gandhi, Global Head of GSAC and Regional Head of AMEE, Standard Chartered Global Private Bank, said: “Expanding our private banking team in the UAE reflects our confidence in the country’s unique role as a global wealth hub. With its strategic location, world-class infrastructure, and forward-looking economic policies, the UAE continues to attract HNW and UHNW clients seeking stability and growth. This growing demand for bespoke private banking solutions is driving our commitment to further enhance our capabilities in the UAE, positioning us as a trusted partner that seamlessly connects clients to global markets and investment opportunities while helping them protect, manage, and grow their wealth.”
He added: “The UAE continues to be a priority market for Standard Chartered, with the bank actively investing in talent and resources to meet the needs of its high and ultra-high-net-worth clients. This latest expansion reflects the bank’s strategy to remain at the forefront of private banking, leveraging its global network and local expertise to provide unparalleled services to this growing client segment.”
Standard Chartered’s focus on expanding its presence in key markets like the UAE highlights its dedication to delivering tailored private banking solution and building lasting partnerships with clients. In addition to this expansion, the Global Private Bank announced earlier this year over a dozen new hires, and today’s new hires aligns with its ambition to consistently build up capabilities to support the needs of high and ultra-high net worth (HNW and UHNW) clients.
