UBS Global Wealth Management (GWM) will appoint Michael Bächli as the new head to lead its non-resident Indian (NRI) business in the Middle East, based in Dubai.
Michael will take this position, relocating from Singapore to the UAE, according to multiple sources. He will lead the Swiss giant’s NRI business in the Middle East. The global NRI business is helmed by Conrad Huber, and has Singapore-based Vineet Mehta and Bikram Sen, in its team.
Bächli was most recently at J Safra Sarasin for over two years, where he was group head overseeing its NRI business. He spent a longer stint at Julius Baer, working for 16 years, covering the non-resident Indian segment and oversaw Japan. When he moved from the Swiss private bank to J Safra Sarasin in 2023, he took several NRI bankers with him.
In May, UBS GWM’s Benjamin Cavalli had emphasised an increased focus on global client connectivity. He outlined that Asia and the Middle East are key regions where multi-shoring is important. The Swiss giant plans to open a new office in Abu Dhabi as well.
The senior hire comes amid changes at the bank’s NRI team, which saw the hire of Aditya Kaul from Bank of Singapore, and the exits of Naushad Khan and Keshav Jain.
UBS GWM is still firming up its NRI strategy, after having recently sold its India onshore wealth business for $36m to domestic giant 360 One in April.
