Credit Suisse plans to expand its Middle Eastern presence through a new venture as Credit Suisse Saudi Arabia.
Bassam Yammine has been appointed CEO of Credit Suisse Saudi Arabia. Yammine assumes this position in addition to his current responsibilities as Co-CEO of Credit Suisse in the Middle East. Bassam Yammine succeeds Sabah al-Binali, who will remain on the Board of Credit Suisse Saudi Arabia.
Credit Suisse Saudi Arabia will deliver Private Banking, Investment Banking and Asset Management services to the Bank’s clients. Credit Suisse will offer the full range of investment banking services across advisory, capital raising, structured finance, structured lending and dealing as agent in the Saudi stock market, as well as a comprehensive range of wealth management products and advisory services locally and access to the global product range of Credit Suisse.
“We are pleased to have expanded our presence in Saudi Arabia with the establishment of Credit Suisse Saudi Arabia,” says Eric Varvel, chief executive officer of Europe, the Middle East and Africa for Credit Suisse. “We are committed to our clients in the Middle East and the expansion of our platform in Saudi Arabia is an important step in the development of our Middle East franchise.”
“Saudi Arabia is the dominant economy in the Gulf region and is a key growth market for Credit Suisse in the Middle East,” says Bassam Yammine, CEO of Credit Suisse Saudi Arabia and Co-CEO of Credit Suisse in the Middle East. “We look forward to partnering with our local and international clients to capitalise on the significant opportunities presented by our expanded presence in the region.”
D.C.