Audi Private Bank sal was granted the “Best Bank for Wealth Management in the Middle East” award at Euromoney’s Awards for Excellence 2016.

The ceremony, which took place in Dubai’s Raffles Hotel on June 1, was attended by prominent guests including top executives of regional banks and financial institutions.

In recognising Audi Private Bank for this, Euromoney editor Clive Horwood highlighted that “in wealth management, the inaugural award goes to a bank that is not a newcomer, but is nevertheless refocusing on this business. Its Swiss operation was established in the 1970s. Today Switzerland is one of its main booking centres, alongside Lebanon and Saudi Arabia, though it also sources clients from operations in Egypt and Turkey and attracts wealth from the Lebanese diaspora as far away as Latin America and Sub-Saharan Africa. It aims to bring Private Banking up to 12% of consolidated net revenues and earnings. As part of the drive to attract wealth, it entered a new partnership agreement in 2015 with London and Singapore-based Crossbridge Capital, a wealth advisory firm launched in 2008 with backing from Julius Baer. In a region with plenty of wealthy people, we think this is the bank that delivers best-in-class wealth management.”

Mr. Philippe Sednaoui, Executive Chairman of Audi Private Bank, thanked Euromoney “for this award which is an international recognition of many years of performance and effort trying to put clients’ interest first through an open architecture investment approach, a customised and flexible wealth management strategy, tactical partnerships, and providing best of breed products in Private Banking and asset management.”