Riyadh – Mubasher: Credit Suisse Group announced the appointment of Dominique Leimer from UBS Group to manage the Switzerland-based bank’s office in Saudi Arabia.
The Swiss lender affirmed that it will hire Saudis in the new administration team, Bloomberg News reported, citing two informed sources.
The bank also launched a platform in an effort to provide private banking products and solutions for in the oil-rich nation.
Expansion in Saudi Arabia is part of Credit Suisse’s strategy to expand beyond Europe, the lender noted.
On 31 July, Credit Suisse submitted a request to Saudi authorities after meeting with Saudi Arabian Monetary Authority’s (SAMA) governor Ahmed Abdulkarim Alkholifey to obtain a full licence in a bid to expand its investments in the GCC country during the coming period.
In July 2017, media sources stated that the Swiss lender was planning to appoint a number of general managers in Saudi Arabia in a bid to boost investments in the kingdom.
