Dubai - 11 October 2011, Merrill Lynch Wealth Management today announces that it has further strengthened its wealth management business in the Middle East with the appointment of Haytham Abou El Nasr, Mahmoud Bakr and Rani Mortada as financial advisors.
In their new roles, Mr. Abou El Nasr, Mr. Bakr and Mr. Mortada will work as a team, focusing on the Gulf Corporation Council countries (GCC), Egypt and Levant region offshore business. Haytham Abou El Nasr reports to Ahmed Barakat, United Arab Emirates market manager, Merrill Lynch Wealth Management. Rani Mortada and Mahmoud Bakr report to Adam Horowitz, head of UK and Ireland, Merrill Lynch Wealth Management, and to Tamer Rashad, head of Middle East, Merrill Lynch Wealth Management.
Mr. Abou El Nasr, will be based in Dubai. He has 28 years' experience working in the financial sector. Before joining Merrill Lynch Wealth Management, he was chief operations officer at Prime Asset Finance in London, where he was responsible for investment placement, fund raising, corporate finance and business development in MENA region. Prior to this, he worked as a private banker at Credit Suisse in Dubai.
Mr. Bakr, who will be based in the London office, has 15 years of private banking experience. He joins from MHBI Consultants, where he was the founder and chief executive officer servicing ultra high net worth individuals (UHNWI). Mr. Bakr worked as relationship manager in UBS in London, HSBC Private Bank in London and Credit Suisse Private Banking in Milan, Italy.
Mr. Mortada, who will be based in the London office, has 10 years' banking experience in London. He joins from Standard Chartered Private Bank, where he worked as a private banker focusing on the Levant market. Previously, Mr. Mortada was with Plurimi Capital as a financial advisor to private and institutional clients, Credit Suisse where he worked in investment banking with a focus on media and telecom and HSBC Private Bank as a financial advisor to HNWI from the Middle East.
Merrill Lynch Wealth Management has a long history in the Middle East. It established its presence in the region some 49 years ago, first opening an office in Beirut, Lebanon. The Middle East team operates in offices located in Bahrain, Beirut, Dubai, Geneva, London, Monte Carlo and Riyadh, offering our clients solutions and services across wealth management, private banking, advisory, wealth structuring, brokerage and trusts.
Tamer Rashad, head of Middle East Merrill Lynch Wealth Management, said,
"Haytham, Mahmoud and Rani are a team with an exceptionally high level of wealth management experience. Their appointment is a further sign of our commitment to the region and the importance that we place on continuing to attract the best people in the industry to provide exemplary service and solutions to our clients. "
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Merrill Lynch Global Wealth Management is a leading provider of comprehensive wealth management and investment services for individuals and businesses globally. With more than 16,200 Financial Advisors and more than $1.5 trillion in client balances as of June 30, 2011, it is among the largest businesses of its kind in the world. More than two-thirds of Merrill Lynch Global Wealth Management relationships are with clients who have a net worth of $1 million or more. Within Merrill Lynch Global Wealth Management, the Private Banking & Investment Group provides tailored solutions to ultra affluent clients, offering both the intimacy of a boutique and the resources of a premier global financial services company. These clients are served by more than 160 Private Wealth Advisor teams, along with experts in areas such as investment management, concentrated stock management and intergenerational wealth transfer strategies. Merrill Lynch Global Wealth Management is part of Bank of America Corporation.
For more information contact:
Sarah Aziz, Media Relations
Merrill Lynch Wealth Management
sara.aziz@baml.com
Tel: +971 4 4258331
Manash Bhuyan
FTI Consulting
manash.bhuyan@fticonsulting.com
Tel: +971 50 8419631
© Press Release 2011
