Standard Charted has appointed UBS’ Demir Avigdor (pictured) as managing director and market head, Africa and Europe, as it eyes growth in its private banking and wealth management business.
Avigdor has over 16 years’ experience at UBS Wealth Management in a variety of wealth, advisory and leadership roles, most recently as managing director, desk head and senior client advisor.
Prior to joining UBS, Avigdor worked as a commodities trader in London for 11 years.
Speaking about the appointment, Ian Gibson, managing director, regional head Africa, Middle East and Europe, private banking, said: ‘Across our network we’re investing in our private banking business, and building our talent and expertise.
‘As such I’m delighted to have Demir join the team. He brings with him a wealth of experience and will be key to building our franchise in Africa and Europe.’
Standard Chartered decision to hire Avigor comes at a dynamic time for the firm as it continues to invest in its private banking and wealth unit.
In 2016, the bank partnered with Temenos to build a robo-advise suite for its wealth clients. The bank said it saw the adoption of WealthSuite as providing ‘significant hardware and maintenance cost reduction’ for clients.
Headquartered in Singapore, the private bank 1200 employees, including over 370 relationship managers, in 11 offices globally.
Since its launch in 2007, it has acquired American Express Bank in 2008, and Morgan Stanley’s onshore private wealth management business in India.