Deutsche Bank has appointed Fred Hilal as the new head of wealth management in the Gulf region (excluding Saudi Arabia).

In his new role, Hilal will lead Deutsche Bank’s client coverage across the Gulf. Based in Dubai, he will report to Steve Wainwright, the head of Wealth Management Middle East and Africa.

A veteran in the wealth management industry, Hilal boasts more than 20 years of experience across the region.

He worked the majority of his career at Merrill Lynch where he held various senior leadership positions in their Wealth Management division in Dubai, Monaco, Geneva and Lebanon, including global head of Wealth Management Middle East and country executive Monaco.

He also worked on several assignments as chief executive of Bahrain, head of Saudi Arabia and co-head at Continental Europe, focusing on Paris, Madrid and Turkey.

Hilal was a permanent board member of Merrill Lynch in Lebanon and a member of the EMEA Wealth Management Management Committee.

Welcoming the appointment, Wainwright said: "With this move we further strengthen our Gulf business which is strategically important to the development of our wealth management capabilities. It demonstrates the importance of the wider Middle East region."

"We see tremendous potential for services to wealthy clients with sophisticated needs in the region. Together with the Wealth Management Saudi coverage team in Riyadh led by Sascha Pietrek, we have a proven track record in the region and a deep understanding of our clients’ needs. This expertise offers an opportunity for us to further accelerate the growth of our footprint in the Gulf," he noted.

Jamal Al Kishi, the chief executive (Middle East and Africa) said Hilal had a solid track record in the industry and was an invaluable addition to its MEA Wealth Management platform.

"His regional experience and deep market insights complement the well established strength of our local team and will add further momentum to the growth of our business," he added.-TradeArabia News Service