Goldman Sachs recruits for Mena private wealth business

Goldman Sachs has appointed a former UBS executive to lead its private wealth management business in the Middle East.

Gabriel Aractingi will be based in Geneva but will serve as managing director and head of private wealth management, Mena for the US firm.

Goldman Sachs is looking to double the size of its Mena wealth business both in terms of headcount and client assets, according to comments from European wealth co-head Stefan Bollinger reported by Bloomberg.

Aractingi spent three years as head of UBS’s global family office in Mena. Prior to that he was in charge of Saudi Arabian business for Investcorp, the Bahrain sovereign wealth fund.

The appointment comes after the retirement of Mena Wassim, Goldman’s head of Mena, who left in December after nearly three decades at the firm and was instrumental in building its Mena business.

He was replaced by Fadi Abuali and Zaid Khaldi, heads of asset management and investment banking respectively, who took over as co-chief executives in January.

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