BEIRUT: Audi Private Bank was given the “Best Bank for Wealth Management in the Middle East” award at Euromoney’s Awards for Excellence 2016. The ceremony, which took place in Dubai’s Raffles Hotel on June 1, was attended by prominent guests including top executives of regional banks and financial institutions.

“In recognizing Audi Private Bank for this, Euromoney Editor Clive Horwood highlighted that ‘in wealth management, the inaugural award goes to a bank that is not a newcomer, but is nevertheless refocusing on this business,’” a statement from Bank Audi said.

It added that Switzerland is one of the bank’s main booking centers, alongside Lebanon and Saudi Arabia, though it also sources clients from operations in Egypt and Turkey and attracts wealth from the Lebanese diaspora as far away as Latin America and Sub-Saharan Africa.

Philippe Sednaoui, executive chairman of Audi Private Bank, thanked Euromoney “for this award which is an international recognition of many years of performance and effort trying to put clients’ interest first through an open architecture investment approach, a customized and flexible wealth management strategy, tactical partnerships and providing best-of-breed products in Private Banking and asset management.”