The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has promoted several senior UAE executives to serve NBAD’s strategic growth goals.
“NBAD has an ambitious goal to more than quadruple net profits to AED 16 billion by 2021. The Bank is investing in the business and the promotion and rotation of senior executives will build a stronger management cadre to take the Group towards its 2021 target,” said Michael H. Tomalin, the Group Chief Executive of NBAD. “Moreover, the shifting and new appointments reflect NBAD’s objective of placing more UAE Nationals at the helm of the National Bank of Abu Dhabi.”
In these changes, Abdulla Mohammed Saleh AbdulRaheem was promoted to Deputy Group Chief Executive of NBAD. Mr. AbdulRaheem joined the Bank in 1982 and held various positions prior to being appointed Group Chief Operating Officer in January 2003.
In addition to his new role and responsibilities, he will continue to be responsible for Group Finance, Group Treasury, Transformation Management Office, Business Planning and Strategy,Group Economics,NBAD Properties, Registrar Services, Administration and Procurement & Commercial Management. He will also be responsible for specific strategic projects and tasks assigned by the Group Chief Executive.
“Abdulla AbdulRaheem has served NBAD for many years and has been instrumental in building the Bank to its prominent position,” Mr. Tomalin said.
NBAD promoted Khalaf Sultan Bin Rashed Al Dhaheri to hold the position of the Group Chief Operating Officer. Mr. Al Dhaheri, who has worked at NBAD for over 15 years, served as the General Manager and Deputy Chief Risk Officer of NBAD before his promotion.
During his career journey in NBAD, Mr. Al Dhaheri held senior positions and gained comprehensive knowledge of the Bank’s operations.
As Group Chief Operating Officer, Mr. Al Dhaheri will supervise a range of functions such as Operations, Information Technology, and Human Resources.
In another promotion, Abdulla Bin Khalaf Al Otaiba was promoted to Senior General Manager of the Domestic Banking Division. Mr. Al Otaiba will lead the Bank’s Consumer, Elite and Business Banking (SMEs). In addition, he will oversee NBAD Islamic Banking, which is managed by Abu Dhabi National Islamic Finance (ADNIF), the Sharia-compliant finance and banking arm of NBAD.
Mr. Al Otaiba joined NBAD in 2003 and held many senior positions. He has served as Deputy Senior General Manager of Corporate & Investment Banking Division and General Manager of Corporate Banking Group since 2007.
Al Otaiba replaces Saif Al Shehhi who was appointed advisor to the Board of Directors. Mr. Al Shehhi, who began working at NBAD in 1994, has served as the Senior General Manager of the Domestic Banking Division since 2005.
“These appointments bring about both change and continuity, change in that we are giving new people the opportunity to grow and show their skills in different areas and continuity in that the executive team remains in place and new talent joins it,” Mr. Tomalin said.
NBAD has been ranked since 2009 by Global Finance in the World’s 50 Safest Banks, and safest bank in the Middle East. NBAD, the most profitable bank in the UAE, is also the first UAE bank to earn more than US$1 billion in annual net profits, a feat it achieved in 2010 and repeated in 2011.
“The NBAD Board of Directors made these appointments based on the merits that these individuals showed through their long and fruitful service to NBAD,” Mr. Tomalin said. “I congratulate these colleagues and am confident they will lead NBAD to achieve its targets and maintain NBAD’s commitment to Abu Dhabi Vision 2030.