Dubai, UAE – Barclays Wealth announces the appointment of Yousef Helou, Tarek Malas and George el Khoury to its Private Banking team in the Middle East. Mr. Helou and Mr. Malas both join from Merrill Lynch in London where they focused on high net worth (HNW) clients in the Gulf Co-operation Council. Mr. el Khoury joins from Kuwait Financial Centre (Markaz). They will report to Soha Nashaat, Head of Middle East, Barclays Wealth.
The team will help to build the private client franchise for HNW and Ultra HNW clients in the Middle East. Their focus will be on leveraging Barclay's considerable resources to ensure delivery of integrated offerings and solutions to clients in the region.
This will include partnering with colleagues across different business disciplines to implement institutionally oriented and solution-based client offerings. Mr Helou, Mr. Malas and Mr. el Khoury all join with immediate effect and will be based in Dubai.
Soha Nashaat said:
"I am delighted to welcome Yousef, Tarek and George to Barclays Wealth. Their track record of business development and profitability and in-depth knowledge of the marketplace in the Middle East, will be invaluable as Barclays seeks to aggressively grow its business in this key area. These appointments demonstrate Barclays Wealth’s growing stature and commitment to the region."
Mr Helou was previously Senior Vice President at Merrill Lynch where he was actively involved in developing HNW & UHNW business in the Arabian Gulf with a focus on Kuwait, Saudi Arabia, UAE and Qatar. He also covered a number of institutional clients in the region. Mr. Helou’s extensive career spans 25 years at Merrill Lynch, beginning in Kuwait. Mr. Helou moved to London in 1991 where he had since been instrumental in promoting Merrill Lynch’s franchise in the region. Mr. Helou joins as Managing Director.
Mr. Malas was previously Vice President at Merrill Lynch, beginning his career in 1995. Mr. Malas was working as a Financial Advisor within Merrill Lynch’s London office, focusing on UAE, Kuwait and Saudi Arabia. Mr. Malas worked closely with Mr. Helou at Merrill Lynch and is expected to continue doing so in building key HNW & UHNW relationships.
Mr El Khoury joins from Kuwait Financial Centre (Markaz) where he was Manager of Client Relationship and Strategic Planning. In this role he was responsible for the development of local and international clients. He was also involved in launching equity call options on the Kuwait Stock Exchange & Markaz’s 3rd US Real Estate Investment Trusts (REITS) via US investment arm Mar-Gulf. Prior to that he previously worked for Gulf Bank in Kuwait.
Soha Nashaat joined Barclays Wealth in September 2006 from Merrill Lynch to build up Barclays Wealth’s presence in the region. Other recent hires include Mr Dungarwal and Mr Khatau from Julius Baer Middle East Ltd.
Barclays Wealth is the UK’s leading Wealth Manager 2006 for the second year running by PAM (Private Asset Managers) and has £84.7bn assets under management globally (H1 2006). Barclays Wealth is made up of four business units – international and private banking, financial planning, investment services and brokerage. It provides customers with a comprehensive range of solutions to meet their wealth management needs, in the UK and overseas. Thomas L. Kalaris is the Chief Executive of Barclays Wealth and he joined the business at the start of 2006.