Font Size
Share this article


Print Friendly Version
22 March 2020
MOVES

Abu Dhabi Commercial Bank appoints new chairman

HE Khaldoon Al Mubarak also serves as the Managing Director and the Group Chief Executive Officer of Mubadala Investment Company

The appointments come as ADCB continues its integration with Union National Bank and Al Hilal Bank, to deliver scale and efficiencies/Bloomberg

by Kudakwashe Muzoriwa

The board of Abu Dhabi Commercial Bank (ADCB) has appointed HE Khaldoon Al Mubarak as the new Chairman and HE Hussain J Al Nowais as the new Vice-Chairman.

The appointment of the chairman and the vice-chairman follows the approval by the shareholders to appoint HE Al Mubarak, Ahmed Saeed Al Calily and Mohamed Ali Al Dhaheri, to the bank’s Board.

ADCB stated that the decision by the shareholders follows the stepping down of HE Eissa Al Suwaidi, HE Mohamed Dhaen Al Hamli and Mohamed Hamad Al Mehairi, as board directors.

The appointments come as ADCB continues its integration with Union National Bank and Al Hilal Bank, to deliver scale and efficiencies.

“I’m honoured to serve as Chairman of the new Board as ADCB enters its next phase of development. Our priority as a board will be to support and guide the business as we advance the strategy for sustainable growth,” said HE Khaldoon Al Mubarak.

ADCB is now the UAE's third-largest financial institution and one of the country’s largest retail lenders, with over one million customers, net loans of AED 250 billion and customer deposits at AED 262 billion as of 31 December 2019.

ADCB stated that the bank’s current institutional priorities include Emiratisation and talent development, along with digitisation, technology and operational development to better serve the existing customer base and establish new growth platforms.

 


RELATED STORIES: Abu Dhabi Commercial Bank Union National Bank Al Hilal Bank


RECOMMENDED NEWS



BRANDS MAGAZINES LATEST EDITION

OUR BRANDS



CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2019 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.