Swiss Bank Mirabaud Group Hires Islamic Finance Expert in Dubai

Ruggiero Lomonaco has joined Mirabaud Middle East as head of Islamic finance, bringing specialised knowledge in Shariah-compliant investment structures to the Swiss banking group’s Dubai operations. The appointment signals an expansion of service capabilities as demand for Islamic finance solutions grows among the bank’s client base.

Lomonaco started in the role in February 2026, reporting to Georges Khoueiri, who recently took charge as chief executive officer of Mirabaud Middle East. The hire adds depth to the operation’s ability to serve family offices, private investors and institutional clients seeking ethical investment options that comply with Islamic principles.

Extensive Background in Islamic Finance

Lomonaco brings nearly three decades of international banking experience, with a career focused on developing Shariah-compliant investment solutions. He spent the previous eight years at Rasmala Investment Bank, where he managed a Shariah alternatives platform concentrating on real estate and infrastructure investments.

Earlier career positions included senior roles at JPMorgan, HSBC and ABN AMRO. His educational background comprises a degree in economics and business from Sapienza Università di Roma, with specialisation in finance, portfolio management and financial derivatives. He also holds certification as a public accountant.

The appointment reflects what Mirabaud Group described as growing demand for tailored Islamic finance solutions. Lomonaco’s experience combines technical expertise in Shariah-compliant structures with market knowledge across multiple asset classes.

New Leadership in Dubai

Khoueiri’s appointment as chief executive officer last year brought a different profile to the Dubai operation. His background spans institutional capital markets rather than traditional wealth management, with more than two decades at firms including JPMorgan, Credit Agricole and Societe Generale.

Most recently, Khoueiri served as managing director and head of institutional clients at Global Gate Capital in Dubai. Thiago Frazao, equity partner at Mirabaud Group and chairman of Mirabaud Middle East’s board of directors, noted that Khoueiri’s experience outside conventional wealth management frameworks informed the hiring decision.

The bank is one of the very few international establishments to hold a Category 1 banking license in Dubai International Financial Center, obtained in 2010 after establishing its Dubai presence in 2007. The license permits a broader range of services than many wealth managers operating in the region can offer.

Lomonaco’s addition to the team suggests Mirabaud Group sees opportunity in combining traditional Swiss private banking with specialised Islamic finance capabilities. The bank has characterised its regional approach as blending heritage with an entrepreneurial operating model.

Part of Broader Expansion

The Dubai appointments coincide with leadership changes across Mirabaud’s operations in other markets. Émilie Serrurier-Hoël joined as chief executive officer of Mirabaud & Cie (Europe) SA in June 2025, overseeing wealth management across Luxembourg and branches in Spain, France and the United Kingdom. Carlo Thill joined the board of directors at Mirabaud & Cie (Europe) SA in March 2025, adding governance experience from Luxembourg’s financial sector.

Ricardo Castillo took on the role of head of investments in July 2025, managing discretionary and advisory activities at the Swiss private bank.

Mirabaud Group operates under family control, now in its seventh generation since its founding in Geneva in 1819. The group maintains its headquarters in Geneva and operates offices across Europe, the Middle East and the Americas.

The Dubai office serves professional clients under DFSA regulation, offering discretionary management, advisory services and wealth planning. Lomonaco’s role centers on developing and managing Islamic finance offerings for clients requiring Shariah-compliant investment solutions across these service lines.