Emirates NBD has named Gary Dugan chief investment officer – wealth management, a role he most recently held at the National Bank of Abu Dhabi.
In announcing Dugan’s appointment, Emirates NBD didn’t say who, if anyone, he was succeeding in the role.
Emirates NBD is said to be the largest banking group in the Middle East by assets, and according to recent press reports is looking to expand into Indonesia.
Dugan’s appointment marks his return to ENBD, as he was its chief investment officer between 2009 and 2012. He also held CIO roles at Barclays and Merrill Lynch in London, Coutts in Singapore and, as mentioned, most recently at the National Bank of Abu Dhabi, according to a statement on Emirates NBD’s website.
At Emirates NBD, Dugan will be responsible for overseeing the CIO office within Emirates NBD Wealth Management, and for providing guidance to the bank’s private banking and retail clients, the ENBD statement added.
Suvo Sarkar, senior executive vice president and group head of Emirates NBD’s Retail Banking & Wealth Management business, said the institution was looking forward to taking advantage of Dugan’s “expertise in investment strategies, as we accelerate [distribution of] our wealth management offering across the Middle East and North Africa (MENA) region and into key international markets”.
News of Dugan’s appointment came days after Emirates NBD announced the promotion of Saod Obaidalla to executive vice president and head of private banking, in which role he will be responsible for all of the bank’s global private banking business.