Khalaf Ahmad Al Habtoor meets the new CEO of National Bank of Abu Dhabi

Press release
Published December 11th, 2013 - 04:22 GMT
Al Habtoor
Al Habtoor

The new Group CEO of the National Bank of Abu Dhabi (NBAD) today paid a courtesy call on Khalaf Al Habtoor. Alex Thursby and senior executives from NBAD visited the Al Habtoor Group Chairman at the Group’s Head Office on Al Wasl Road on Tuesday December 10, 2013. The delegation included Ahmed Mohamad Dhaen, Country CEO & Head of Wholesale – Dubai; Mahmood Al Aradi, Senior MD & Head of Global Markets; Rola Abu Manneh, Senior MD & Head of Client Relationships, Wholesale Banking Group and Ranjit Bharathan, Senior Manager & VP, Corporate Banking Group – Northern Emirates. 

Also present was Mohammed Al Habtoor, Vice-Chairman and CEO of the Al Habtoor Group; Ahmed Al Habtoor, CEO, Al Habtoor Motors;  Paul Rayner, Advisor to the Chairman; KP Rajan, Group Financial Advisor; Sanjeev Agarwala, Director of Strategy and Business Development and Arun Krishnan, Chief Financial Officer. 

The meeting was an introductory meeting following Thursby’s appointment as chief executive of the Abu Dhabi based bank in July this year. The bank, said to be one of the ‘world’s 50 safest banks’ recently devised a growth strategy around three geographical pillars, led by its home market. It has laid off 100 staff this year as part of its restructuring plan.

Thursby discussed the restructuring that the bank is undertaking – which includes the rationalisation of departments and focusing on key clients – particularly on the wholesale side. 

Since he took over the helm, Thursby has introduced a more simplified organisational structure by merging its six segments into three departments — Global Wholesale Banking, Retail and Commercial, and Global Wealth. 

Al Habtoor discussed the longevity of the relationship with NBAD as well as ongoing business plans, “We met today to build on what I consider an already strong relationship,” he said.

Background Information

Al Habtoor Group

The Al Habtoor Group has grown with the United Arab Emirates. What started out as a small engineering firm in 1970, is today one of the region’s most respected conglomerates with interests in the hospitality, automotive, real estate, education and publishing sectors. The Al Habtoor Group has earned itself a solid reputation both locally and internationally due to the vision of its Chairman, Khalaf Ahmad Al Habtoor.

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