The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has appointed Rüdiger von Wedel as the Senior General Manager of its Global Wealth business.
Mr. von Wedel, who has 20 years of experience in private and wholesale banking, will oversee the newly integrated Global Wealth Division comprising of NBAD's brokerage arm, Abu Dhabi Financial Services (ADFS); the Asset Management Group (AMG); Global Private Banking, and NBAD's Custody business.
Mr. von Wedel joins NBAD from ABN AMRO where in his last position he was the chief executive of the bank's global private banking business with client assets of more than USD 150 billion under management.
During his more than 18 years with ABN AMRO, he served the bank in several different capacities, including executive roles in investment and corporate banking as well as heading the group's central strategy and performance management department. He worked for ABN AMRO in Austria, Germany, France, the Netherlands, and the UK.
Mr. Wedel holds an MBA from INSEAD and a bachelor's degree in Economics from London School of Economics.
"NBAD is fully committed to developing its global wealth business. To support this major strategic initiative, I am delighted to welcome Rudiger to the senior executive team at NBAD," said Michael Tomalin, the Group Chief Executive of NBAD. "We are confident that his profound experience and expertise will be invaluable asset to realise our vision to become the Number One Arab Bank."
NBAD's Asset Management Group (AMG) is one of largest asset managers in the region with more than AED 5 billion under its management; the Bank's brokerage arm, Abu Dhabi Financial Services (ADFS) is one of the largest brokerage firm's in the country; and NBAD's Private Banking offers services in the UAE and in Europe through its Swiss subsidiary NBAD Private Bank (Suisse) SA based in Geneva.
In addition, the newly established custody business made NBAD the first bank in the UAE to be granted the license by the Emirates Securities and Commodities (SCA) to practice "Securities Custody" activities.
"I'm very excited to join a prestigious institution with commendable ambitions. I plan to engage with NBAD executives, management team, the staff, and our esteemed clients to develop and put in motion plans and programmes to generate sustainable growth that serves NBAD, our clients and also support the development and progress of Abu Dhabi and the UAE," Mr. von Wedel said.
"NBAD is in a unique and enviable position; it has remained strong and is growing at a time when most financial institutions around the world are still in recovery. Furthermore, this is a historic time as both Abu Dhabi and NBAD are increasingly emerging on the global scene." Mr. von Wedel added.
During his years of service at ABN AMRO, Mr. von Wedel was praised for growing the businesses he led and for innovation and motivating the staff that worked under his leadership.
