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DUBAI – 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 CEO as the bank accelerates its growth in the Middle East, North Africa and Turkey (MENAT) area.
Both appointments are effective May 1, 2023.
Abdulfattah chairs HBME’s board after 13 years as CEO of HSBC UAE, and since 2017 he has overseen the bank’s operations in Algeria, Bahrain and Kuwait as head of international.
Mohamed is a career banker with HSBC and since joining Emirates Bank in 2002, his extensive experience spans retail, commercial, corporate and investment banking, including roles leading some of HSBC’s most important client relationships in the country, most recently as Head of Global Banking in the UAE.
The Board’s appointment of Abdulfattah coincides with his 15th anniversary at HSBC Emirates Bank, where he joined in 2008 as Chief Executive, Personal Financial Services for the Middle East and North Africa, where he led its retail banking business. He succeeds Samir Assaf, who will continue as a non-executive director on HBME’s board and non-executive chairman of HBME’s holding company, HSBC Middle East Holdings BV.
“These appointments reflect the strength and depth of HSBC’s executive team in the UAE, and Abdul Fattah and Mohamed’s extensive experience in supporting clients as they expand internationally. HSBC’s role in supporting growth and development is fundamental to the banks that have done business since then,” said Samir Assaf, chairman of the board of HSBC Middle East Holdings BV.
These appointments directly support the HSBC Group’s strategic plan to expand its ambitions and accelerate its growth in the region.
“I look forward to continuing to work with Abdulfattah in his new role as Chairman of the HBME Board of Directors, and to supporting Mohamed in determining how we can best build on our heritage to strengthen and deepen our long and enduring relationship here to create more Momentum across the UAE business as we implement HSBC’s strategy to accelerate MENAT’s growth,” said Stephen Moss, Regional Chief Executive Officer, HSBC MENAT.
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Media inquiries:
Nick Edwards
nick.a.edwards@hsbc.com
About Abdul Fattah Sharaf
Abdulfattah Sharaf was a board member of HBME from 2010 to 2019 and has held board positions at HSBC Saudi Arabia and Etisalat. He is currently a board member of HSBC Private Bank, DIFC Higher Council, Noor Dubai Foundation, American University of Sharjah Board of Trustees and MasterCard MEA Advisory Board.
HSBC in the MENAT region
HSBC is the largest international bank in the Middle East, North Africa and Turkey (MENAT) region, with operations in nine countries in the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Turkey and the United Arab Emirates. In Saudi Arabia , HSBC holds a 31% stake in Saudi Arabian Bank (SAB) and a 51% stake in HSBC Saudi Arabia, which is engaged in investment banking in Saudi Arabia. As of December 31, 2022, HSBC had assets of US$71 billion in MENAT.
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