Bassel Zaouk

Bassel Zaouk is a senior banking executive who recently joined UBS as the Managing Director and Chief Executive Officer for the Kingdom of Saudi Arabia.14 His appointment is part of UBS's strategic expansion in the Middle East region, particularly in wealth management.

Career Background

Prior to joining UBS, Bassel Zaouk had a long and distinguished career at Deutsche Bank:

• He spent 17 years at Deutsche Bank, most recently serving as the CEO and Chief Country Officer for Saudi Arabia.24
• His extensive experience at Deutsche Bank provided him with deep knowledge of regional markets and a valuable network in the Middle East financial sector.2

Role at UBS

At UBS, Bassel Zaouk has been appointed to several key positions:

• Managing Director and Chief Executive Officer for the Kingdom of Saudi Arabia.56
• Head of Domestic Wealth Management at the Riyadh office.1

His recruitment is seen as a significant move by UBS to strengthen its presence in the Middle East, particularly in Saudi Arabia. Zaouk is expected to play a crucial role in building out UBS's domestic wealth management business in the country.4

Education

Bassel Zaouk's LinkedIn profile indicates that he received his education from Columbia Business School in New York, NY.3

Industry Impact

Zaouk's appointment is part of a larger initiative by UBS to bolster its Middle East operations:

• He is one of ten new hires UBS has made in the region, primarily from competitors Deutsche Bank and HSBC.1
• His move to UBS is considered the bank's first major hiring in the Middle East since its acquisition of Credit Suisse in 2023.2

Bassel Zaouk's extensive experience and regional expertise are expected to contribute significantly to UBS's ambitious growth strategy in the Middle East, particularly in the wealth management sector.