Mohamed Shoukry was appointed as chief executive for the Middle East subsidiary of Union Bancaire Privée, a Switzerland-headquartered private bank, according to a press statement.
Shoukry takes over from Mohamed Hamed Abdellatif, who joined UBP in 2012 and had served in this role since 2015. Abdellatif was appointed co-head of the Middle East and Africa region effective Jan. 1, alongside Walid Shash, who has been leading UBP's MEA strategy since 2005.
UBP currently manages over $12 billion in assets for its Middle Eastern clients, of which $4.5 billion is managed out of Dubai.
"Mohamed Shoukry and Mohamed Abdellatif's extensive experience and strong grasp of the region make them the ideal leaders to steer UBP through its next phase of development and maintain its double-digit growth in the region in the coming years," said Nadège Lesueur-Pène, UBP's head of wealth management for developing markets, in the release.
UBP has been present in the region since 2012, with its Dubai office having more than 40 employees.
Prior to joining UBP, Shoukry was head of multinational coverage for Eastern Europe, the Middle East and Africa at J.P. Morgan Chase.