Khalaf Al Habtoor holds talks with Emirates NBD Group CEO

Press release

Published May 13th, 2014 - 05:31 GMT

Al Bawaba

Al Habtoor Group Chairman held high-level talks with senior bankers from Emirates NBD including Shayne Nelson, Group Chief Executive Officer from the leading UAE retail banking franchise. Also present was Mahdi Kazim, General Manager for the Large Corporate Global Banking Division of the bank; Mohammed Al Habtoor, Vice Chairman and CEO, Al Habtoor Group; Paul Rayner, Advisor to the Chairman; KP Rajan, Group Financial Advisor;Arun Krishnan, Chief Financial Office and Ahmed Al Otaiba, Director/Member of the Board.

This was the first meeting between the Al Habtoor Group Chairman and the new ENBD Group CEO. Nelson took over recently as Group CEO of Dubai’s biggest bank from former Chief Executive Rick Pudner. He was previously CEO of Standard Chartered Private Bank, and also held a number of key positions in two of Australia’s major banks, Westpac Banking Corp. and National Australia Bank.

Al Habtoor informed Nelson about the economic climate in Dubai and told him about the projects currently underway, as well as future plans for the Group. He said, “I am 100 per cent confident in our economy, our vision and the future of our country. This is arguably the only safe haven left for investors.”

“The UAE offers a stable platform for investors,” he said. “This is why the Al Habtoor Group is investing heavily here.”

They also commented on the boom in real estate in the city. Al Habtoor said, “There is no bubble as investors have a more realistic attitude towards buying in today’s economic climate.”

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.

Company Profile

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.