Dubai, UAE – Credit Suisse Qatar CEO Aladdin Hangari is joining HSBC. Patrick D’Amico, a Zürich based Credit Suisse Managing Director and Strategic Client Partner, as well as several other senior team members will be joining HSBC with him.
D’Amico and his colleagues are a leading Middle East banking team advising on and arranging large and complex investment and financing transactions for UHNWI and institutional clients. They are widely recognised as one of the best performing teams in the region.
Hangari, D’Amico and their colleagues regroup at global banking giant HSBC to leverage the bank’s strong existing capabilities to deliver sophisticated financial solutions to the Middle East ultra-rich and institutional clients.
Hangari and D’Amico have been working closely together for 20 years and have built an extensive network of key client relationships including UHNWIs, royal family members, government agencies and financial institutions across the region.
HSBC is a dominant player in the Middle East for commercial and private clients. With this move the bank will further strengthen the dominance of its franchise to expand their coverage of ultra-rich and institutional clients across the MENA region.
The move indicates that HSBC will strategically invest further in Qatar to capture incremental growth opportunities with key strategic clients and to expand their business activities and operations in the country.
“While the team move is a blow to UBS it is expected to have been received positively by Hangri and D’Amico’s clients who are looking for a strong alternative proposition that can deliver bespoke investment advice and structured lending transactions.