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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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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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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SoftBank to hire Deutsche Bank’s Saudi Arabia head – report – ArabianBusiness.com

SoftBank to hire Deutsche Bank’s Saudi Arabia head – report Saudi Arabia’s Public Investment has a $45 billion stake in the SoftBank-managed Vision Fund. According to the report, Saudi national Ziyad Al Ashaikh has already quit Deutsche Bank, although it remains unclear when he will begin working with SoftBank. Source: SoftBank to hire Deutsche Bank’s Saudi Arabia head – report – ArabianBusiness.com

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