Today, Youssef Dib, Head of Private Banking, considers that "Our Bank still has huge potential to develop as a result of the long-standing personal relationships that the Bank has built up at a high level in numerous countries, its network of branches in the region, and the importance of its business assets.

The relevance of its model, which offers a wide range of products and services to clients (Private Banking but also specialised fi nancing, property, etc.), is an undeniable asset in this still economically young sector, where capitalism remains largely family-based.

We also maintain a strong potential for intra-group synergies, particularly with BSF in Saudi Arabia (The Saudi French Bank), and are benefi ting from the weakening position of some of our major competitors, particularly those from the US and the UK."

• Despite the major crisis we are undergoing, the region remains a buoyant market, primarily because the local economies are largely index-linked to oil, with economists agreeing that the price per barrel will recover strongly when the upturn is confi rmed, and also because there is an increasing trend for these economies to become more open and diversifi ed. In fact, whilst development is taking place on the service side in Dubai and Bahrain, in Abu Dhabi and Qatar it is more apparent in the fi elds of education, culture and sustainable development. Therefore, Dubai is particularly well positioned as far as tourism is concerned and as an international centre with a fi rst-class airport infrastructure, whilst Abu Dhabi will be home to the International Renewable Energy Agency (IRENA). Finally, in the Levant, Lebanon is now benefi ting from a more stable political situation and a buoyant economy.
  
  In this context, the Bank intends to seize the development opportunities that are available in the region. What strategy should we adopt to do this? According to Youssef Dib, "We have to strengthen our presence in the countries where we’re already strong and that have a healthy economy, i.e. Lebanon and Arabia, but also in particular to focus on those countries where we have a local presence, especially the United Arab Emirates. It is important to ensure the transition to the new generation with our existing clients, intensify the penetration of established fortunes, and at the same time attract the new entrepreneurs who will create tomorrow’s wealth."
  
  As you now know, the Middle East is a strategic region for the development of our Bank’s wealth management activities. The concentration of wealth and the economic dynamism of the countries in the region are reasons to feel optimistic about our development prospects, and management strategy seems to be resolutely geared towards growth. The eighty or so people who serve this clientele, whether from Geneva or from the six offices of our regional network, therefore have a lively challenge ahead of them, which we will be following with interest.