UBS Saudi Arabia

UBS Saudi Arabia

UBS Saudi Arabia, a subsidiary of UBS AG, is authorized and regulated by the Capital Market Authority to conduct securities business under license number 08113-37 dated 4 Rajab 1429H (corresponding to 7 July 2008) and has a commencement date of 19 Rajab 1430H (corresponding to 12 July 2009) for the following securities business activities:

  • dealing as agent (except in the Saudi Arabian stock market)
  • underwriting
  • managing client portfolios
  • arranging
  • advising, and custody of securities

UBS Saudi Arabia deals in all international markets (through its affiliates within the UBS AG Group), with the exception of the local stock market in Saudi Arabia and stock markets in sanctioned countries by the United Nations.

UBS Saudi Arabia is a Saudi closed joint stock company incorporated in the Kingdom of Saudi Arabia with a paid capital of 110,000,000 Saudi Riyals under commercial register number 1010257812 having its registered office at Tatweer Towers, P.O. Box 75724, Riyadh 11588, Kingdom of Saudi Arabia.

UBS Saudi Arabia is owned 100.00% by UBS AG.

The registered address of the shareholder UBS AG is: Bahnhofstrasse 45, 8001 Zurich and Aeschenvorstadt 1, 4051 Basel, Switzerland.

Products and services

UBS Saudi Arabia is a subsidiary company of UBS AG. The two business groups of UBS AG carry out business in Saudi Arabia through UBS Saudi Arabia:

Investment Bank provides services to corporate and institutional clients with expert advice, innovative solutions and outstanding execution for both simple and complex transactions.

Wealth Management provides financial services to wealthy clients. It includes a full range of wealth management services from asset management to estate planning and corporate finance advice.

Potrait image of Niels Zilkens

Ghassan Soufi
Chief Executive Officer & Head of Wealth Management

Ghassan Soufi has over 25 years of experience in the Saudi financial sector. Before joining UBS in September 2019, he was Head of Private Banking, Western Region, at Samba  Financial Group for more than 13 years, focusing on high net worth individuals (HNWIs) and institutions.

During that time he promoted Samba franchise and banking products, and offered advice to HNWIs on leverage opportunities. Prior to Samba, he worked at the National Commercial Bank (NCB), where his final position was in the Risk Management Division with various responsibilities including Countrywide Head of Credit Control, Secretary of the Credit Committee, and managing credit policies and portfolio management.

Ghassan Soufi holds a bachelor’s degree in computer science and an MBA from George Washington University. He has attended INSEAD executive leadership and Frank Russell executive management courses.


Board of Directors

Potrait image of Ramzi Abukhadra

Ramzi Abukhadra

Current function

Chairman of the Board

Education

1997 – 06/1999

HARVARD UNIVERSITY GRADUATE SCHOOL of BUSINESS ADMINISTRATION
Master in Business Administration. Member Delta hedge fund, Harvard Oil & Gas Society - BOSTON, MA

1990 – 1992

UNIVERSITY OF TEXAS AT AUSTIN
Master of Science in Chemical Engineering. Conducted a two-year research and published Master’s thesis and technical papers on hydrocarbons sorption from dilute aqueous solutions using polymeric microspheres - AUSTIN, TEXAS

1984 – 1987

UNIVERSITY OF TENNESSEE AT KNOXVILLE
Bachelor of Science in Chemical Engineering with Honors. 1985 Chemical Engineer “Student of the Year” award. Member Tau Beta Pi National Engineers Honor Society and Golden Key Honor Society. Mid East and Africa international students’ representative at the university international student center. Elected international students’ representative to the university student senate - KNOXVILLE, TENNESSEE

1984

INTERNATIONAL COLLEGE
Completed the Lebanese Baccalaureate Program Part II with distinction - BEIRUT, LEBANON

Professional History

2016 – Present

NATIONAL BLOOD & CANCER CENTER - RIYADH, SAUDI ARABIA
Director

2014 – 2016

KUWAIT COMPANY FOR PROCESS PLANTS - KUWAIT, KUWAIT
Director

2013 – Present

METLIFE - AIG – ANB COOPERATIVE INSURANCE COMPANY-RIYADH,SAUDI ARABIA
Chairman of the Board of Directors

2013 – Present

MAYAASIM AL-KHALEEJ - RIYADH – SAUDI ARABIA
Managing Partner

2011 – Present

GULFMERGER - LEVANT & GCC
Advisor

2011 – 2013

TAIB BANK – BAHRAIN
VICE CHAIRMAN

2011 – 2013

TAAMEER REAL ESTATE COMPANY – KUWAIT
MEMBER – BOARD OF DIRECTORS

2012 – 2014

MNF3 AL-JAZERRA – KHOBAR, SAUDI ARABIA
MEMBER – BOARD OF DIRECTORS

2003 – 2011

JPMORGAN CHASE BANK – BAHRAIN
Managing Director

2001 – 2003

RASMALA INVESTMENTS - DUBIA, UNITED ARAB EMIRATES
Director

2000 – 2003

IHILAL FINANCIAL SERVICES - DUBIA, UNITED ARAB EMIRATES
Managing Partner

1999 – 2000

THE CARLYLE GROUP - RIYADH, SAUDI ARABIA
Associate/ Director – Carlyle Arabia

Summer 1998

CAMBRIDGE ENERGY RESEARCH ASSOCIATES - CAMBRIDGE, MA
Analyzed mergers and acquisitions in the oil downstream industry

1996 – 1997

SAUDI ARAMCO - RAS TANURA, SAUDI ARABIA
Lead Project Engineer

1994 – 1996

ARAMCO SERVICES COMPANY/ BECHTEL - CALGARY, CANADA
Project Engineer

1992 – 1993

SAUDI ARAMCO - RAS TANURA, SAUDI ARABIA
Lead Plant Process Engineer

1987 – 1990

ARABIAN AMERICAN OIL COMPANY (ARAMCO) - DHAHRAN, SAUDI ARABIA
Plant Process Engineer / Process Simulation/ Consulting

Potrait image of Ghassan Soufi

Ghassan Soufi

Current function

Chief Executive Officer, Head of Wealth Management & Board Member

Education

1988

George Washington University, Washington D.C., USA

Master of Business Administration (MBA)

1986

George Washington University, Washington D.C., USA

Bachelor of Science in Computer Science from the School of Engineering 

Professional History

2019 – Present

UBS, Riyadh Saudi Arabia
Chief Executive Officer & Head of Wealth Management

2006 – 2019

Samba Financial Group
Head of Private Banking Western Region

2000 –2006

The National Commercial Bank
Head of Credit Policies & Portfolio Management

1993 –2000

The National Commercial Bank
Senior Corporate Banker

1993 –2000

The National Commercial Bank
Project Manager

Mandates

2021- present

UBS Saudi Arabia
Board Member 

Potrait image of Christopher Mark Petheram

Christopher Mark Petheram

Current function

Vice Chairman Asset Management

Education

1982 - 1986

University of Bristol
Electrical and Electronic Engineering, B. Eng.

1977 - 1981

Wellington College, Berkshire O, A and S Levels

Professional History

2010 - present

UBS AG, London,
Head of Global Sovereign Institutions.

1999 - 2010

UBS AG, London,
UBS Global Asset Management Initially Head of the Middle East.

1988

Mercury Asset Management, London
Fixed income fund manager – Managing GCC client portfolios.

1996 - 1998

Nomura Asset Management, London
Head of EMEA sales.

1992 - 1996

United Bank of Kuwait, London
Fixed income fund manager - Managing GCC client portfolios.

1990 - 1992

Century Asset Management, London
Fixed income fund manager - Managing North American client portfolios.

1987 - 1990

CIGNA Corporation, London
Fixed income fund manager - Managing Life and Non-life investment portfolios

2008 - 2011

UBS Saudi Arabia
Ex-Non Executive Board member

Professional experience

 

Member of the UBS Global Asset Management Executive Committee

Potrait image of Christopher Mark Petheram

Schady Saeb

Current function

Managing Director

Non-Executive Board Member

Education

2018

 Advanced Leadership Program, Judge Business School, Cambridge University - Cambridge, UK

1995-1996

Mercer University, Bachelors in Business Administration and Finance- Atlanta GA, USA

Professional History

2019 – Present

UBS – Geneva, Switzerland
Head UHNW Saudi Arabia, Managing Director

1997 - 2019

Citi - Geneva- Switzerland
Managing Director

Mandate

 

Non-Executive Board Member, UBS Saudi Arabia

Potrait image of Wahdan S. Alkadi

Wahdan S. Alkadi

Current function

Board Member

Education

June 2010

King Fahad University for Petroleum and Minerals
EMBA, Executive Business Administration

June 2000

King Fahad University for Petroleum and Minerals
B.Sc., Industrial Management

Professional History

2019 - present

Ministry oF Tourism (TDF)
Chief Commercial Officer

2019 - 2019

Zain
Investment Consultant / VP of Investor Relations

2018 – 2019

Tatweer Sports (Tharawat Holding Subsidiary)
Chief Executive Officer

2015 – 2018

Tharawat Holding
Portfolio Director

2012 - 2015

Tharawat Holding
Senior Investment Manager

2011 – 2012

Technical and Vocational Training Corporation
Strategic Partner Advisor

2010 – 2011

Ras Al Salam Holding
Investment and Business Development Manager

2004 – 2009

Hoshanco Holding
Senior Vice President

2001 – 2004

Saudi American Bank (SAMBA)
Assistant Manager

Mandate

2018 - present

Chubb Insurance
Board Member

2018 - present

Chubb Insurance
Risk Committee

2018 - present

Chubb Insurance
Nomination & Remuneration Committee

2015 - 2019

Etihad Jawraa “Lebara”
Internal Audit Committee

2018 - 2019

Thob Al Aseel
Internal Audit Committee


Management team

Potrait image of Ghassan A Soufi

Ghassan A Soufi

Chief Executive Officer & Head of Wealth Management

Ghassan Soufi has over 25 years of experience in the Saudi financial sector. Before joining UBS in September 2019, he was Head of Private Banking, Western Region, at Samba  Financial Group for more than 13 years, focusing on high net worth individuals (HNWIs) and institutions.

During that time he promoted Samba franchise and banking products, and offered advice to HNWIs on leverage opportunities. Prior to Samba, he worked at the National Commercial Bank (NCB), where his final position was in the Risk Management Division with various responsibilities including Countrywide Head of Credit Control, Secretary of the Credit Committee, and managing credit policies and portfolio management.

Ghassan Soufi holds a bachelor’s degree in computer science and an MBA from George Washington University. He has attended INSEAD executive leadership and Frank Russell executive management courses.

Potrait image of Fady Fakhoury

Fady Fakhoury

Head Business Risk Organization

Fady Fakhoury gained a master’s in business administration (MBA) from the "Ecole des Hautes Etudes Commercials (HEC)" in Canada in 1997. He has been Head Business Risk Organization at UBS Saudi Arabia since 2018, and Corporate Administrator since 2012. Prior to that he was Head of Compliance and AML from 2008 to 2017 at various capital market institutions, including from 2012 to 2017 at UBS Saudi Arabia.

Before that he worked as an IT, HR, finance, purchasing management and strategy consultant from 1998 to 2007, spending the last three years advising Saudi Arabian and international institutions on acquiring their securities business licenses from the Capital Market Authority of Saudi Arabia, and helping them build their businesses, organizations, systems, and procedures.

During his consulting career, Fady Fakhoury worked for KPMG and IBM in Canada, and Deloitte Middle East. Prior to that he was an IT and project manager for Air Canada in Canada from 1992 to 1996.

Potrait image of Faisal Alshibl

Faisal Alshibl

Director, Global Wealth Management

Faisal Alshibl has over nine years of experience in alternative investments and private placements with global practices in the UK, USA and GCC. Prior to joining UBS in April 2020, Faisal operated in Dubai as an executive manager spearheading business development for Bank of London and the Middle East. Prior to that, he was a vice president at Greenstone Equity Partners, responsible for the independent representation of a variety of global fund managers on a bespoke basis, including private equity, private credit, venture capital and hedge funds.

Prior to that, Faisal Alshibl worked for Samba Financial Group, one of the region’s largest banks. At SAMBA, Faisal was a relationship manager and credit risk officer within the Private Banking Group, responsible for managing a multi-billion portfolio.

He started his career in Samba Future MA’s program and gained industry training through this extensive executive program covering investments, treasury, risk management and anti-money laundering.

Faisal holds a Bachelor’s degree with Honours in Economics and Business Management from the University of Sussex in the United Kingdom.

Potrait image of Imran Ali

Imran Ali

Finance Manager

Imran Ali is a finance professional with over 13 years of cross-functional experience in running F&A closing and reporting, accounting and month-end closing, financial reporting, balance sheet reconciliation, profit & loss analytical reviews, intercompany settlements, financial statements, projects, and transition management.

Before joining UBS Saudi Arabia in October 2021, he worked at UBS Poland as the Regional Controller for Swiss subsidiaries. He was also involved in streamlining, standardizing and consolidating small entities from different parts of the world in Poland. He successfully introduced robotics to UBS Poland’s finance department.

Imran Ali holds a bachelor’s degree in commerce, and a managerial level certificate from the Chartered Institute of Management Accounting (CIMA).

Potrait image of Hussai Al Huraiz

Hussain Al Huraiz

Head of C&ORC and MLRO

Prior to joining UBS Saudi Arabia in November 2022, Hussain Al Huraiz spent over twenty years in the compliance and AML field with local, regional, and international banks and financial institutions regulated by SAMA and CMA. He holds a Bachelor of Arts and several compliance and AML & CTF certificates and qualifications. 

Saudi Arabia:

Address:

King Khalid Road
West Umm Al Hamam Dist 2376
Postal code:12329
Riyadh
Kingdom of Saudi Arabia

Phone:

Switzerland:

Address:

UBS Switzerland AG
Rue des Noirettes 35
1227 Carouge / Geneva
Switzerland

Phone:


What do others say about us?

Being recognized by our industry peers speaks volumes for the close relationships that we've built with our clients in the Middle East over the past 50 years. We're driven by a need to exceed our clients' expectations, and to excel in providing wealth management services and solutions.

Recognized as an industry leader by our peers and industry experts all over the world.

Best Global Bank for Private Banking Services Overall 
Euromoney Private Banking Survey (2011 - 2021)

Best Global Bank for Net-worth-specific services Ultra High Net Worth clients (US$30m - US$250m)
Euromoney Private Banking Survey (2020)

Best Global Bank for Net-worth-specific services High Net Worth clients (US$5m to US$30m)
Euromoney Private Banking Survey (2020 - 2021)

Best Global Bank for Net-worth-specific services Super Affluent (US$1m - US$5m)
Euromoney Private Banking Survey (2021)

Best Global Bank for Family Office services
Euromoney Private Banking Survey (2016 - 2018 & 2020 - 2021)

Best Global Bank for Philanthropic Advice
Euromoney Private Banking Survey (2015 - 2021)

Best Global Bank for ESG/Impact Investing
Euromoney Private Banking Survey (2020 - 2021)

Best Global Bank for International Clients
Euromoney Private Banking Survey (2020 - 2021)

Best Global Bank for Serving Business Owners
Euromoney Private Banking Survey (2020)

Best Global Bank for Next Generation
Euromoney Private Banking Survey (2020 - 2021)

Best Global Bank for Technology – Data Management and Security in Private Banking and Wealth Management
Euromoney Private Banking Survey (2020 - 2021)

Best Global Bank for Technology – Innovative or Emerging Technology Adoption
Euromoney Private Banking Survey (2020 - 2021)

Best Bank for Technology – Data Management and Security in Private Banking and Wealth Management in Middle East
Euromoney Private Banking Survey (2020)

Best Bank for Net-worth specific services Ultra High Net Worth clients (>US$30m - US$250m) in Saudi Arabia
Euromoney Private Banking Survey (2021)

Best Bank for Net-worth-specific services Super Affluent (US$1m - US$5m) in Saudi Arabia
Euromoney Private Banking Survey (2021)

Best Bank for Net-worth-specific services Mass Affluent (US$100k - US$1m) in Saudi Arabia
Euromoney Private Banking Survey (2021)

Best Bank for Wealth Management in the Middle East
Euromoney Awards for Excellence (2020)

Best Bank for Research and Asset Allocation Advice in Saudi Arabia
Euromoney Private Banking Survey (2020 - 2021)

Best Bank for Next Generation in Saudi Arabia
Euromoney Private Banking Survey (2020 - 2021)

Outstanding Global Private Bank-Global
Private Banker International Awards (2019)

Best Private Bank for Sustainable Investing
PWM and the Banker (2019)

Best Private Bank for UHNW Clients
PWM and the Banker (2019)

Best Global Private Bank
PWM and the Banker (2019)

More about our awards


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