HSBC has appointed Mohammed Al Marzouqi as head of global banking in the UAE, subject to regulatory approval.
The bank said in a statement on Tuesday that this was a newly created role, reflecting its ambition to grow its business in the UAE and across the Middle East, North Africa and Turkey (MENAT).
Mohammed, who was previously head of Abu Dhabi coverage for HSBC Global Banking, will report to Abdulfattah Sharaf, CEO of HSBC UAE and Head of International, and Gareth Thomas, Head of Global Banking in MENAT.
HSBC last month said profits fell to $8.78 billion in 2020 down from over $13 billion the year before as the global health crisis took a toll. The lender said it expects economic growth and international trade in MENAT and Asia to outpace the global average.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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