Emirates NBD names new key officials

DUBAI – Emirates NBD, the biggest UAE bank by assets and the leading banking group in the region, announced on Monday the appointment of Giel-Jan Van Der Tol as group head of wholesale banking.

The bank also announced that Douwe Oppedijk has joined as the new interim chief executive of Dubai Bank, which it took over in October.

Van Der Tol previously served as the CEO of Dubai Bank, Emirates NBD’s fully-owned subsidiary. Oppedijk previously served as the CEO of Commercial Bank International, and has 28 years of experience managing financial organizations.

Congratulating both Van Der Tol and Oppedijk on their new appointments, Emirates NBD CEO Rick Pudner said their knowledge and extensive banking experiences would add value for both Emirates NBD Group and Dubai Bank.

Emirates NBD, which has total assets of Dh271.9 billion, has over 141 branches and operations in the UAE, Saudi Arabia, Qatar, Singapore, the UK and Jersey (Channel Islands), and representative offices in India and Iran.

Emirates NBD plans to issue an Islamic bond, or sukuk, as early as next week, a senior official at the bank was quoted on Monday as saying.

“We have not signed a mandate letter yet but are hoping to sign a mandate this week — we are in talks with banks now. As far as issuance [is concerned], next week is a possibility,” Tony Bush, head of global funding at Emirates NBD was quoted as saying by a news agency.

In November, Pudner told reporters that the lender was considering issuing an Islamic bond but was still undecided on the size and timing, and had not mandated any banks yet.