Audi Private Bank Granted the “Best Bank for Wealth Management in the Middle East” Award by Euromoney

08 Jun 2016
  • Photo – from left to right: - Mr. Olivier Holmey, Euromoney Middle East Correspondent. - Mr. Philippe Sednaoui, Executive Chairman of Audi Private Bank sal. - Mr. Jean Traboulsi, Head of Marketing and Communications at Bank Audi sal. - Mr. Clive Horwood, Euromoney editor.
Audi Private Bank sal was granted the “Best Bank for Wealth Management in the Middle East” award at Euromoney’s Awards for Excellence 2016.

The ceremony, which took place in Dubai’s Raffles Hotel on June 1, was attended by prominent guests including top executives of regional banks and financial institutions.

In recognising Audi Private Bank for this, Euromoney editor Clive Horwood highlighted that “in wealth management, the inaugural award goes to a bank that is not a newcomer, but is nevertheless refocusing on this business. Its Swiss operation was established in the 1970s. Today Switzerland is one of its main booking centres, alongside Lebanon and Saudi Arabia, though it also sources clients from operations in Egypt and Turkey and attracts wealth from the Lebanese diaspora as far away as Latin America and Sub-Saharan Africa. It aims to bring Private Banking up to 12% of consolidated net revenues and earnings. As part of the drive to attract wealth, it entered a new partnership agreement in 2015 with London and Singapore-based Crossbridge Capital, a wealth advisory firm launched in 2008 with backing from Julius Baer. In a region with plenty of wealthy people, we think this is the bank that delivers best-in-class wealth management.”

Mr. Philippe Sednaoui, Executive Chairman of Audi Private Bank, thanked Euromoney “for this award which is an international recognition of many years of performance and effort trying to put clients’ interest first through an open architecture investment approach, a customised and flexible wealth management strategy, tactical partnerships, and providing best of breed products in Private Banking and asset management.”

Euromoney Magazine has been the voice of international capital markets for over 40 years, offering unique coverage of the global equity, bond and foreign exchange markets. Its annual Awards for Excellence program has been running for 26 years and forms a benchmark for financial institutions featuring high-quality products and services across all areas of banking. The selection of Best Bank Awards is based on quantitative and qualitative criteria over the 12-month period.

Audi Private Bank is the wealth management arm of Bank Audi Group. The Bank operates through three main booking centres based in Switzerland, Lebanon and Saudi Arabia, with additional offices in Monaco, Qatar, Jordan and the United Arab Emirates. Deep rooted in the Middle East and North Africa region, the Bank offers its clients an in-depth understanding of their needs and the challenges they face. Audi Private Bank is committed to serve its growing client base since 1976, when Banque Audi (Suisse) was established in Switzerland. Because it recognizes the importance of sound corporate governance, it has established a set of guidelines to increase its long-term value. Audi Private Bank offers a comprehensive and diversified range of services, with full access to major markets worldwide and global investment products. It serves its customers through discretionary portfolio management, investment advisory, trade execution in all classes, Lombard credit, and other Private Banking services such as estate planning, fiduciary deposits, safe custody and credit cards.

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