Swiss Bank Taps New Leadership to Expand Middle East Operations

A 206-year-old Swiss banking institution has refreshed its regional leadership as it positions itself to capture growing wealth flows across the Middle East market.

Mirabaud appointed Georges Khoueiri as chief executive officer of its Dubai-based subsidiary, marking a shift toward what the bank describes as a more entrepreneurial approach to wealth management. Khoueiri brings more than 25 years of experience across international financial institutions including JPMorgan, Credit Agricole CIB, and Societe Generale.

The appointment comes as the family-owned banking group strengthens its commitment to a region it entered nearly two decades ago. The bank established its Dubai presence in 2007 and secured banking status in 2010, making it among the earliest international wealth managers to operate in the market.

Middle East Platform Gains Institutional Expertise

Khoueiri most recently served as managing director and head of institutional clients at Global Gate Capital in Dubai. His background spans private and public markets, investor relations, and regulatory frameworks—areas that extend beyond traditional private banking.

“His background, that goes beyond traditional wealth management, and his entrepreneurial vision reflect exactly the kind of bold thinking we need,” said Thiago Frazao, equity partner and chairman of Mirabaud Middle East.

The Dubai operation holds a Category 1 banking license through the Dubai International Financial Center, a designation the bank notes reflects its long-term regional commitment. Mirabaud operates as one of few international groups maintaining this licensing status in the financial center.

Strategic Shift Toward Differentiated Model

The new leadership signals a departure from conventional private banking models prevalent across the region. Khoueiri emphasized his focus on building connections between institutional investors, private markets, and global capital flows.

“My career has been shaped by building bridges between mainly institutional investors, private and public markets, and global capital flows—an approach that is still rare in private banking,” Khoueiri said.

The bank’s European wealth management operations have undergone similar leadership transitions this year, with appointments across its Luxembourg, Paris, and Madrid offices. These moves form part of a broader effort to strengthen its presence across multiple geographies.

Targeting Untapped Capital Sources

Mirabaud’s renewed push coincides with wealth accumulation across Gulf markets. The bank identified what it calls “untapped sources of capital” throughout the Middle East, though it declined to provide specific market size or opportunity estimates.

The institution, which remains controlled by its founding family after seven generations, operates offices across Switzerland, Europe, and select international markets. Its Geneva headquarters oversees operations spanning 10 countries.

Recent governance appointments in Luxembourg have included executives with decades of experience in the financial sector. These leadership additions underscore the bank’s emphasis on regional expertise combined with institutional knowledge.

Khoueiri takes the helm as regional wealth management becomes increasingly competitive. International banks, boutique firms, and family offices compete for relationships with high-net-worth individuals and institutional clients across the Gulf.

The bank positioned the leadership change as part of its aim to deliver what it describes as tailored solutions reflecting client priorities. Mirabaud emphasized its intent to expand its regional presence from its Dubai base while maintaining its Swiss banking heritage.

“By delivering tailored solutions that reflect their priorities and ambitions, Mirabaud aims to strengthen its relevance and create long-term value for clients and communities across the Middle East,” Khoueiri said.

The appointment follows a year of executive transitions across the bank’s international network, reflecting what the institution characterizes as a focus on attracting leaders who align with its approach to wealth management and client service.