HSBC, a global financial services firm, is hiring private bankers for its Middle East and North Africa regional expansion.

The global banking firm has already hired over 100 bankers since last year, and by adding more private bankers, it aims to serve an increasing number of millionaires and billionaires moving to the region.

According to Aladdin Hangari, who joined the bank in October last year to lead private banking for the Middle East and North Africa, the hiring efforts will increase client assets by about 60 percent by 2030. He also noted that the division is the biggest contributor to HSBC’s Swiss private banking, which manages $85 billion in client assets. He added, “We are in all the key markets and we have a strong business. There’s a lot more we can do with existing clients, and there’s more we can do in terms of attracting new clients.”

You may also like:

• Employee engagement in the Middle East: How to choose best HR Tech solutions
• How to ensure women stay longer in your organisation?
• 4 ways to promote continuous learning in a workplace

Highlighting that the company added 100 bankers in 2023 and plans to continue hiring in the Middle East in the coming months to meet the needs of the growing number of wealthy individuals relocating to the region, Hangari said, “There is definitely a strong demand for talent and especially the top performers. There is an opportunity for us to grow everywhere, but obviously Saudi is going to always be a key market for all the private banks due to its sheer size, along with the UAE, Kuwait, and Qatar. We definitely see a lot of interest both in terms of investments from the Middle East into Asia and Asia into the Middle East. We want to be in the middle of these investment flows and trade flows.”

Hangari, who brings over 20 years of industry expertise to the bank, is one of the key hires for the region. He served Credit Suisse Qatar as the Chief Executive Officer, managing top clients and served as key relationship manager for the Qatari royal family.