Hassan Jarrar appointed as Head of Client Relationships to ensure continued UAE growth
In the first half of 2007, Standard Chartered, a leading international bank and one of the main players in the UAE, grew its Wholesale Banking income in the Middle East and South Asia (MESA) region to $323 million and operating profit to $182 million, a 32 per cent increase. MESA is one of the most dynamic markets for Standard Chartered, with the UAE being the 6th largest market for the Bank globally.
To maintain momentum and ensure continued and unprecedented success for Wholesale Banking in the UAE, Standard Chartered has appointed Hassan Jarrar as the new Head of Client Relationships for their Wholesale Banking division.
With over 21 years of experience in the banking and financial sector, Hassan's appointment is in line with the overall Group Wholesale Banking strategy to further develop and expand the Bank's client relationship business. Globally the Client Relationship division contributes to around 80 per cent of Wholesale Banking revenues.
Nigel Jones, CEO Standard Chartered UAE, said: "All of the Bank's client segments and products are performing extremely well. Hassan's move to Standard Chartered is aligned with our vision of becoming the region's international bank of choice."
The Bank is committed to meeting the needs of clients, and has recently enhanced products and services by providing tailored packages, from relatively simple working capital finance to more value-added capital markets strategic solutions.
John Iossifidis, Regional Head Client Relationships, Middle East and North Africa said, "It is the increasing depth of our client relationships that drives the Bank's income growth in Wholesale Banking. We have built on our client relationship business and invested heavily in expanding our product capabilities."
Hassan brings to Standard Chartered a wealth of both international and local banking experience, and has worked in several high-profile positions in different markets.
"The growth of Standard Chartered over the past five years has been phenomenal and the developments within Wholesale Banking are remarkable," said Hassan. "This is a unique opportunity for me to be a part of a vibrant economic environment and I look forward to being a major contributor to the Bank's growth."
Hassan has a BS in Finance from the California State University in the United States. He will serve on numerous committees within Standard Chartered such as the Management Committee, ALCO, Emiratisation Steering Committee, and Operational and Business Risk Committees.
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Abouit Standard Chartered leading the way in Asia, Africa and the Middle East
Standard Chartered PLC is listed on both the London Stock Exchange and the Hong Kong Stock Exchange and is consistently ranked in the top 25 among FTSE-100 companies by market capitalisation.
Standard Chartered has a history of over 150 years in banking and operates in many of the world's fastest-growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.
As one of the world's most international banks, Standard Chartered employs almost 60,000 people, representing over 100 nationalities, worldwide. This diversity lies at the heart of the Bank's values and supports the Bank's growth as the world increasingly becomes one market.
With strong organic growth supported by strategic alliances and acquisitions and driven by its strengths in the balance and diversity of its business, products, geography and people, Standard Chartered is well positioned in the emerging trade corridors of Asia, Africa and the Middle East.
Standard Chartered derives over 90 per cent of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers worldwide, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award-winning solutions.
Trusted across its network for its standard of governance and corporate responsibility, Standard Chartered takes a long term view of the consequences of its actions to ensure that the Bank builds a sustainable business through social inclusion, environmental protection and good governance.
Standard Chartered is also committed to all its stakeholders by living its values in its approach towards managing its people, exceeding expectations of its customers, making a difference in communities and working with regulators. www.standardchartered.com
For further information, please contact:
Niall McLoughlin
Regional Head of Corporate Affairs
Standard Chartered Bank
Tel: +9714 (0) 4 5070467
Fax: +971 (0) 4 3594174
Mobile: +971 (0) 50 6251329
Email: niall.mcloughlin@ae.standardchartered.com
© Press Release 2007
