27 April 2023

HSBC UAE makes senior leadership appointments as it accelerates growth in MENAT region

Abdulfattah Sharaf has been appointed Chairman of the Board of HSBC Bank Middle East Limited (HBME) with Mohamed Al Marzooqi succeeding him as HSBC UAE Chief Executive Officer as the bank accelerates its growth in its Middle East, North Africa and Türkiye (MENAT) region.

Both appointments are effective from 1 May, 2023.

Abdulfattah takes on the chairmanship of the HBME Board after serving as HSBC UAE CEO for 13 years, a role that he had combined with oversight of the bank’s operations in Algeria, Bahrain and Kuwait as Head of International since 2017.

Mohamed is a career HSBC banker whose wide experience since joining the bank in the UAE in 2002 spans retail, commercial, corporate and investment banking, encompassing roles that have seen him lead coverage of some of HSBC’s most important client relationships in the country, most recently as Head of Global Banking, UAE.

The Board appointment for Abdulfattah comes as he marks his 15th anniversary of service with HSBC in the UAE, having joined the bank in 2008 to lead its retail banking business as CEO, Personal Financial Services, Middle East and North Africa. He succeeds Samir Assaf, who will remain a Non-Executive Director of the HBME Board and also Non-Executive Chairman of the Board of HSBC Middle East Holdings BV, the holding company of HBME.

Abdulfattah Sharaf, Chairman of the Board of HSBC Bank Middle East Limited (HBME)

“These appointments reflect the strength and depth of HSBC’s executive team in the UAE and the deep experience that both Abdulfattah and Mohamed have in supporting clients to expand internationally. They build on the role HSBC has played in supporting growth and development since we became the first bank to open for business in the UAE almost 80 years ago,” said Samir Assaf, Chairman of the Board of HSBC Middle East Holdings BV.

The appointments directly support HSBC Group’s strategic plan to extend its ambitions and accelerate its growth in the region.

“I look forward to working in continued partnership with Abdulfattah in his new role as Chairman of the Board of HBME, and to supporting Mohamed to determine how we can best build on our heritage to strengthen and deepen our long and enduring relationships here to create additional momentum across the UAE business as we deliver on HSBC’s strategy to accelerate our growth in MENAT,” said Stephen Moss, HSBC Regional CEO, MENAT.

Mohamed Al Marzooqi, HSBC UAE Chief Executive Officer

Notes to Editors
Abdulfattah Sharaf was previously a Board member of HBME from 2010 to 2019 and has held Board roles with HSBC Saudi Arabia and Etisalat. He is currently a Board member of HSBC Private Bank Suisse, the Higher Board of the DIFC, Noor Dubai Foundation, the Board of Trustees of the American University of Sharjah, and the Advisory Board of Mastercard MEA.

HSBC in the MENAT region
HSBC is the largest international bank in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$71bn as at 31 December 2022.