Singapore bank DBS to ‘almost double’ Dubai private banking staff by 2023 – Gulf Business

DBS, Southeast Asia’s largest bank, said it would almost double its Dubai private banking staff in its bid to triple revenue for those operations in the Middle East by 2023, capitalising on a shift of investments towards Asia. The Singapore bank is joining Citibank and other global lenders expanding wealth management operations in the region. The prospective client base includes wealthy Middle East business people, family offices and non-resident Indians. Source: Singapore bank DBS to ‘almost double’ Dubai private banking staff by 2023 – Gulf Business

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CitiBank granted licence to open Abu Dhabi branch – ArabianBusiness.com

The Abu Dhabi Global Market (ADGM) has granted Citi a licence to set up a branch of Citibank NA at ADGM, it was announced on Tuesday. The visit was announced during a visit by Citigroup CEO Mike Corbat to Abu Dhabi. The branch is pending final approval from ADGM’s Financial Services Regulatory Authority (FSRA). Source: CitiBank granted licence to open Abu Dhabi branch – ArabianBusiness.com

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Saudi Al Rajhi Bank, SABB report double-digit Q3 profit growth | Reuters

DUBAI, Oct 24 (Reuters) – Al Rajhi Bank and Saudi British Bank, two of Saudi Arabia’s largest banks, reported double-digit third-quarter profit growth on Wednesday, broadly in line with forecasts. Al Rajhi Bank, the kingdom’s second-largest lender by assets, reported a 13.6 percent climb in its third-quarter net profit, helped by a rise in net special commission income and fees from banking services. Source: Saudi Al Rajhi Bank, SABB report double-digit Q3 profit growth | Reuters

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Jayne-Anne Gadhia to leave Virgin Money | Mortgage Introducer

Jayne-Anne Gadhia (pictured) is leaving Virgin Money, where she was chief executive. In June The Clydesdale and Yorkshire bank brands agreed a £1.7bn takeover of Virgin Money. While she is no longer CEO she has agreed in principle to support the group as senior adviser to David Duffy, chief executive of Clydesdale and Yorkshire Banking Group, for 18 months. Source: Jayne-Anne Gadhia to leave Virgin Money | Mortgage Introducer

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Santander appoints new chief executive – BBC News

One of Europe’s biggest banks, Banco Santander, has poached the head of investment banking at UBS to be its next chief executive.Andrea Orcell will replace José Antonio Alvarez, who has been at the helm since January 2015. He has been a long-standing adviser to the Botin family that controls Santander. Source: Santander appoints new chief executive – BBC News

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Deutsche Bank appoints Riyadh GM | ZAWYA MENA Edition

LONDON: Deutsche Bank has appointed Mohammed Alajmi as general manager of Deutsche Bank Riyadh Branch in Saudi Arabia.He will have oversight of the bank’s business regulated by the Saudi Arabian Monetary Authority (SAMA), Deutsche Bank said in a statement.The German banking giant originally established its Riyadh branch in 2006. Source: Deutsche Bank appoints Riyadh GM | ZAWYA MENA Edition

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Abu Dhabi’s ADCB, Union, Al Hilal Bank in talks to merge – Gulf Business

Abu Dhabi is exploring the potential merger of three of its banks to create a lender with around $110bn of assets.Bloomberg first cited sources as confirming discussions to combine Abu Dhabi Commercial Bank (ADCB), Union National Bank and Al Hilal Bank. If successful a deal could be announced as early as this month, the sources said, emphasising that a final decision has yet to be made. Source: Abu Dhabi’s ADCB, Union, Al Hilal Bank in talks to merge – Gulf Business

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Awards for Excellence 2018: Who you gonna call? How Citi became clients’ go-to global investment bank | Euromoney

The old charges against Citi’s wholesale banking division no longer apply. Its scale and breadth are a big positive that no other bank can match. Its diversity and balance are clear strengths that its competitors increasingly envy. As a firm, it’s more joined up than anyone thought possible. And its clients value what Citi can deliver more than ever before. Source: Awards for Excellence 2018: Who you gonna call? How Citi became clients’ go-to global investment bank | Euromoney

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Revealed: Top 10 banks in the UAE – Gulf Business

Things have been on the up for the GCC’s banks, which collectively recorded a better year in 2017 despite slowing economic growth in the region as a whole.Banking activity was supported by a higher oil price and continued infrastructure investment as Gulf states diversify their economies in various ways. Commercial activity in the region expanded in 2017 and consumer confidence grew, albeit slightly. As a result, our list of the region’s 50 leading banks – ranking institutions in Bahrain, Kuwait, Oman, Saudi Arabia and the UAE – recorded higher net profit in 2017. Source: Revealed: Top 10 banks in the

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