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Emirates NBD sets up new subsidiary

Dubai, September 19, 2011

Emirates NBD has set up its fully-owned subsidiary 'Tanfeeth,' aimed at consolidating the banking group’s various back-office and operational teams under one management.

“Tanfeeth” symbolizes the primary objective of the new unit to deliver high quality services that consistently exceed the expectations of the Group customers, said the UAE-based bank in a statement.

Emirates NBD has also made key appointments in Tanfeeth naming Suhail Bin Tarraf as the new CEO.

Tarraf had joined the Emirates NBD Group in 2000 where he developed over several years of experience the skills and capabilities and acquired knowledge and competencies leading to his appointment as Group general manager (Human Resources), said the bank.

He had been spearheading the COE initiative since its inception and until its establishment as Tanfeeth.

In another development, the bank said that Husam Al Sayed will be rejoining the Group as general manager of Human Resources.

Husam brings with him a wealth of experience and knowledge in the field of people management; he has served as GM (Human Resources) at National Bank of Dubai prior to the merger which created Emirates NBD where he carried forward that responsibility briefly before moving on to Al Wasl company to become chief operating officer.

Commenting on the new unit, Group CEO Rick Pudner, said: 'In May, Emirates NBD  launched the centre of operational Excellence (COE), a new transformation initiative aimed at taking service delivery capabilities to standards of international best practice.'

'I am very pleased to announce that the COE will now be known as “Tanfeeth”, an Arabic word that means “getting the job done,' he stated.

Tanfeeth, he said, will operate as a fully-owned subsidiary of the bank, consolidating the Group’s various back-office and operational teams under one management.

On the new appointments, Pudner said, 'I am pleased to announce the appointment of Tarraf as CEO of “Tanfeeth” and Husam Al Sayed who will be re-joining us as group GM of Human Resources.'-TradeArabia News Service




Tags: Dubai | Emirates NBD | Subsidiary | appoint | Tanfeeth |

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