(Bloomberg) -- UBS Group AG is growing its wealth management team in the Middle East with three senior hires from Deutsche Bank AG and HSBC Holdings Plc.

The Swiss bank appointed Ali Khunji from HSBC to take charge of growing the wealth management business in Bahrain and the Eastern Province of Saudi Arabia, UBS said in a statement on Tuesday. Subject to regulatory approval, Ali will assume the role as co-head of the Bahrain office together with Khaled Salah.

Also joining from HSBC, Rana Al Emam will assume responsibility for growing the business in Abu Dhabi, starting on 1 July. 

The bank also recently hired Deutsche Bank’s Bassel Al Zaouk to build out the domestic wealth management business in Saudi Arabia, as previously reported by Bloomberg News. 

UBS is contending for a larger slice of the lucrative wealth management market in the region following its acquisition of Credit Suisse last year. The Gulf countries hold some of the largest wealth concentrations in the world. 

UBS made a total of 10 new hires in the region, with three staffers joining Al Zaouk from Deutsche Bank, and four staffers joining Khunji and Al Emam from HSBC.

Al Zaouk and Khunji will report to Niels Zilkens, head of wealth management Middle East. Al Emam will report to Georges El Khoury, the bank’s location head in Dubai. 

--With assistance from Nicolas Parasie.

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