Wednesday, Feb 08, 2012
DUBAI (Zawya Dow Jones)--Dubai-based Emirates NBD, the largest bank in the Arab Gulf by assets, Wednesday said its deputy chief executive has resigned to focus on private business ventures.
Abdul Wahed Al Fahim's resignation was effective Tuesday, the bank said in a statement posted on the Dubai bourse website. It didn't say who would replace him.
Al Fahim had been with the bank since 1986. He served as general manager of wholesale banking before being promoted to deputy chief executive in 2009.
The move follows a number of recent management changes at Emirates NBD. Suresh Kumar, the long-time chief executive of the bank's investment banking arm Emirates NBD Capital, is leaving the bank later this year as his contract expires. Giel-Jan Van Der Tol was appointed as the lender's new head of wholesale banking in December.
Ahmed Humaid Al Tayer left as chairman last June, when he was replaced by Sheikh Ahmed bin Saeed Al Maktoum, the chairman of Emirates Airline.
-By Asa Fitch and Nico Parasie, Dow Jones Newswires, +971 4 446-1685, asa.fitch@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
08-02-12 0602GMT
