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Arab Bank Switzerland detailed the launch of its new subsidiary in a corporate statement distributed on social media and to news outlets. The entity, named Arab Bank Switzerland (Middle East) Limited, will operate from the Dubai International Financial Centre under the regulation of the Dubai Financial Services Authority. Samir Atitallah takes the role of chief executive officer for the unit, supported by a board that features Elissar Farah Antonios among its members. The bank highlighted how the presence in Dubai will reinforce its long-term commitment to entrepreneurs, family offices and high-net-worth individuals across the Middle East.
Jean-Pierre Daccache, deputy chief executive officer of the parent bank, explained the strategic importance of the appointment in the announcement. “Samir brings deep regional expertise, strong leadership experience within the Swiss private banking industry and a proven ability to build long-term relationships. His appointment is central to our ambition to build a high-quality platform with a strong regional identity, backed by the full expertise and international capabilities of the ABS Group,” Daccache stated. The bank simultaneously welcomed Michel Sarfati as head of family offices, citing his experience with leading regional families as key to enhancing its offerings. This leadership structure aims to merge Swiss banking standards with local market knowledge.
The announcement drew positive reactions from Dubai authorities, according to reports from TradeArabia and other regional outlets on June 30, 2026. Arif Amiri, chief executive of the DIFC Authority, said the centre was pleased to welcome the bank as it seeks to serve clients throughout the Middle East. Such endorsements underscore the UAE’s position as a hub for financial innovation and private banking services. The move forms part of a broader strategy by the Geneva-based institution to scale its operations in the Gulf.
Growth in the regional wealth sector provides a conducive backdrop for the expansion, a Mordor Intelligence assessment found. The MENA wealth management market stood at 0.98 trillion dollars in 2026 and is forecast to climb to 1.36 trillion by 2031, expanding at a compound annual growth rate of 6.72 percent. Private banks accounted for 42.8 percent of that market in the prior year, the research group reported. Arab Bank Switzerland, which traces its Swiss operations to 1962 and maintains around 13 billion dollars in assets under management, is well positioned to capitalise on these trends.
Corporate history from the Arab Bank Group shows the Switzerland unit was the first Arab financial institution to set up in the country, opening in Zurich that year before adding a Geneva branch in 1964. The parent Arab Bank, founded in 1930 in Jordan, has built one of the largest Arab banking networks globally. Recent steps include a 2024 merger with another Swiss entity to bolster its wealth management capabilities, group filings indicate. The DIFC subsidiary adds to this trajectory by localising services for a client base that has grown alongside regional economic diversification.
In the statement, Arab Bank Switzerland expressed appreciation for the support provided by the DIFC and the UAE Ministry of Investment during the setup process. The financial centre hosts roughly 250 institutions overseeing approximately 450 billion dollars in assets, according to earlier DIFC figures that illustrate its scale as a wealth hub. This environment enables the new unit to offer tailored solutions combining international expertise with proximity to clients. The bank indicated plans to build a platform focused on trust, relationships and long-term value creation.
