Emirates NBD, a leading bank in the region, has announced the promotion of Saod Obaidalla to executive vice president, head of Private Banking, assuming overall responsibility of the bank’s global private banking business.

Obaidalla has been an integral part of Emirates NBD for over two decades in various senior roles across retail and wholesale banking. He joined the Private Banking team (PB) in 2010 to set up the Royal Accounts segment and most recently, successfully oversaw the UAE and GCC markets for PB.

In his new role, Obaidalla will oversee and manage relationships with the bank’s HNW (high net worth) and UHNW (ultrahigh net worth) individuals and family businesses with financial assets in excess of $1 million.

“Saod’s experience and wealth expertise equip him well to lead our private banking business as we look to accelerate our strategy across the region and other markets,” said Suvo Sarkar, senior EVP & Group Head – Retail Banking & Wealth Management, Emirates NBD.

“Saod will play an instrumental role in honing relationships with our key clients and strengthening the value proposition of our private banking business.  I would also like to take the opportunity to thank Michael Chahine who will be retiring at the end of March 2016 after having contributed significantly to the business since September 2011.”

Obaidalla said: “I am honoured to lead Emirates NBD’s private banking division as we continue to strengthen our wealth management proposition to private clients. With a deep insight into our client needs, and a diverse range of products and solutions, Emirates NBD PB has built a full-fledged investment advisory platform. I look forward to building on our stellar track record to manage and develop our long-standing client network.” – TradeArabia News Service