The head of Citigroup’s private banking business for ultra-wealthy Middle Eastern clients has quit to join a Swiss-based boutique, predicting a “revolution” in the way the region’s wealthiest families manage their fortunes.

Shawn Mofidi will join Global Wealth Management, a Geneva-based multifamily office, on June 1 and said he had recruited a team of at least five advisers to focus on the Middle East, including former colleagues from Citigroup.