Banco Santander has named former HSBC executive Kamran Butt as its chief investment officer (CIO) and head of product. His headquarters will be in Dubai, and the Santander branch will be situated in the Dubai International Financial Center. Butt comes to the company from HSBC Global Private Banking, where he was the regional market head for Mena, a Dubai-based firm of investment counselors, and managing director.

In addition, he held positions as managing director at Saudi asset manager Sedco Capital and head investment strategist for the Mena region at Credit Suisse. Alfonso Castillo, worldwide head of private banking at Banco Santander, praised Butts selection.