header banner
Default

The Middle East is seeing a rise in private banking


Table of Contents

    Selim Elgen is on the move. The private banker is preparing to head to Dubai from London in a move that was announced mid April and looks set to be completed sometime in August.

    Until this spring, the 30-year Citi veteran, thoughtful and softly spoken, was covering private banking customers in the Middle East and Africa out of London, the place he has called home since graduating from the US firm’s private bank graduate scheme in 1994.

    In March, he was made head of Citi Global Wealth (CGW) for Middle East and Africa, a role that sprawls to an almost incomprehensible degree. He oversees north and sub-Saharan Africa, Turkey, Israel and Russia, not to mention all six Gulf Cooperation Council (GCC) states, including the UAE and Saudi Arabia.

    Add to the mix the sweep of client segments his team must serve.

    Created in 2021 under then-new chief executive Jane Fraser, CGW serves all the bank’s wealth customers, from private-bank clients (average assets under management $350 million) down to Citigold (used by individuals with at least $200,000 in linked deposits and investments).

    He

    Sources


    Article information

    Author: George Salinas

    Last Updated: 1704012122

    Views: 93432

    Rating: 4 / 5 (46 voted)

    Reviews: 89% of readers found this page helpful

    Author information

    Name: George Salinas

    Birthday: 1979-03-14

    Address: 43393 Eddie Corner Suite 161, Feliciahaven, WA 67478

    Phone: +4585297172090719

    Job: Drone Pilot

    Hobby: Cooking, Geocaching, Pottery, Puzzle Solving, Origami, Calligraphy, Cycling

    Introduction: My name is George Salinas, I am a unyielding, ingenious, multicolored, receptive, treasured, spirited, unguarded person who loves writing and wants to share my knowledge and understanding with you.