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Arab Bank Switzerland has opened a physical office in the Dubai International Financial Centre (DIFC) through its newly approved subsidiary, ABS (Middle East) Limited. The Geneva-based private banking group established the entity after receiving a license from the Dubai Financial Services Authority (DFSA). This operational move places the bank directly inside the UAE, a location that now serves as the main base for its regional wealth management and investment business.
By securing a physical presence in Dubai’s financial free zone, the banking group positions its personnel next to the regional entrepreneurs, family offices, and wealthy individuals it has managed from abroad since the 1960s.
About Arab Bank Switzerland DIFC expansion
To steer this new chapter of economic expansion, a highly experienced leadership team has been assembled to manage the platform’s long-term governance.
- Chief Executive Officer (CEO): Samir Atitallah takes the helm of ABS (Middle East) Limited. Atitallah brings deep-rooted regional expertise and executive-level experience from the competitive Swiss private banking industry.
- Head of Family Offices: Michel Sarfati joins as a primary strategic appointment. Sarfati previously spearheaded the Family Office segment within Investment Banking at First Abu Dhabi Bank (FAB) and brings a vast institutional and relational network to the firm.\
The expansion comes as the wider ABS Group manages nearly $25 billion in assets globally. The group recently expanded its asset base by purchasing Gonet et Cie, a Swiss private bank founded in 1845.
Regional changes in Swiss wealth management
The arrival of a local Arab Bank Switzerland entity marks a change in how international wealth managers serve Middle Eastern clients. Historically, Gulf families kept their investment portfolios offshore in Geneva or Zurich, but current clients prefer local management.
Local access helps firms retain clients. Wealthy investors and entrepreneurs want proximity to their financial advisers, along with regulatory standards that align with European frameworks. A local base allows the bank to provide regular, face-to-face meetings that offshore offices cannot easily schedule.
The growth of the DIFC supports this strategy. The free zone houses more than 290 active financial institutions. This high concentration of firms offers shared corporate infrastructure, legal clarity through the DFSA, and direct access to local banking professionals.
| Feature / Metric | ABS Group profile and strategy |
| Global assets under management | Approximately $25 billion |
| Core client demographics | Family offices, wealthy individuals, entrepreneurs |
| Operational regulatory body | Dubai Financial Services Authority (DFSA) |
| Core service proposition | Swiss private banking paired with local market knowledge |
| Historical heritage | Advising regional clients since 1962 |
Editor’s take
Dubai continues to attract European financial institutions seeking direct access to local wealth. By moving from a cross-border advisory setup to a locally regulated DFSA entity, Arab Bank Switzerland can better protect its existing client base while competing directly for market share against other Swiss boutique firms on the ground.
Future outlook for regional asset management
The group intends to combine traditional Swiss private banking risk management with a practical understanding of Middle Eastern markets. As regional families transition their capital into newer asset classes like digital assets and sustainable venture capital, or update their corporate holding structures, wealth managers require a local corporate footprint.
The entry of Arab Bank Switzerland into the DIFC confirms that international banks view Dubai as a secure base for cross-border business and long-term asset protection.
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