Dubai Wealth Manager Establishes Foothold in Geneva

The Dubai- and London-based financial services firm GSB plans to open a branch in Geneva, initially launching with a two-person team in the Rhône city.

GSB has applied for an asset management license from the Swiss Financial Market Supervisory Authority (FINMA). The UAE-based firm aims to offer private banking, wealth planning, and private financing services to high-net-worth and ultra-high-net-worth individuals, families, and corporations through its Swiss subsidiary, as stated in a press release on Tuesday.

GSB Switzerland will be led by Russell Hunter, who previously served as Head of Middle East, Spain, and UK markets at Schroders Private Bank. Hunter also has experience as a private banker at Coutts in Geneva and as a client manager at Barclays Wealth and Investment Management in London.

Russell Hunter (Image: zVg)

Additionally, Béatrice Kofmehl Hofer has been appointed as Private Client Manager. She brings over 20 years of experience in the banking sector, having previously worked as a Senior Private Banker Officer at Schroders. She has also held key positions at Lloyds Bank and UBS.

Range of Services

The establishment of an External Asset Management (EAM) platform will enable GSB to offer an expanded range of wealth management services. The firm serves a client base with an international focus, managing assets and interests across multiple countries, including Switzerland.

«Once approval is granted, this will mark a significant step forward in GSB's expansion plans and will complement our current offerings in the UK and the UAE,» said Alison Whatnall, Chief Operating Officer and founding partner of GSB.

GSB is regulated by the Dubai Financial Services Authority (DFSA) in the UAE and the Financial Conduct Authority (FCA) in the UK.