The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has appointed Nathan Weatherstone as the Head of Project Finance Advisory in NBAD's Investment Banking Group.
Mr. Weatherstone will lead NBAD's project finance advisory team with a focus on developing NBAD's advisory business in the power, transportation and social infrastructure sectors.
"We are very pleased to welcome Nathan on board," said Nicholas Gilani, the Co-Head of NBAD's Investment Banking Group. "The advisory practice at Nation Bank of Abu Dhabi is regarded as a key growth area, covering the full gamut from project finance advisory to mergers & acquisitions (M&A), private placements, IPO advisory and strategic advisory."
Mr. Weatherstone joined NBAD from PricewaterhouseCoopers (PwC), where in the past three years he served as a director leading PwC's public private partnership (PPP) and project financing from Abu Dhabi. Prior to this, he spent seven years with PwC's UK PPP team and two years at Bank of Tokyo-Mitsubishi in London. He holds an MBA from Warwick Business School, UK, and is an Associate of the Chartered Institute of Bankers.
"With an extensive background and deep expertise in project finance and PPP, Nathan is well qualified to build on NBAD's first class track record in regional project financings and will provide high quality leadership to our origination team," Mr. Gilani added.
Mr. Weathersone views the UAE and the greater GCC infrastructure sector as a highly attractive market globally.
"Prompted by population growth and a strong desire to deliver world class public services, we have witnessed a significant increase in infrastructure sector spending in the GCC region which, coupled with a move towards procurement focused on value for money over the whole life of a project, has led to the use of private finance as a primary funding vehicle," Mr. Weatherstone said. "Whilst the current challenges to liquidity are set to persist, well structured projects with strong sponsors remain attractive to the financial markets. With a strong track record in the GCC region and further afield in Egypt, NBAD provides the perfect platform to service regional and international clients."
