- Prestigious accolade presented to Emirates NBD Private Banking at PBI Global Wealth Awards in Singapore
- Division continues to increase local and international presence; now staffed by 220 professionals, including 90 relationship managers and 35 investment specialists
The Private Banking division of Emirates NBD, a leading bank in the region, announced today that it has been named the “Outstanding Private Bank in the Middle East” at this year’s Private Banker International (PBI) Global Wealth Awards, held in conjunction with the 21st PBI Wealth Summit in Singapore.
This prestigious global accolade comes in recognition of the rapid growth and sustained success of Emirates NBD Private Banking, which was established in 2007. Since then, the division has significantly increased its local and international presence, growing its network in Dubai and Abu Dhabi, establishing dedicated Private Banking offices in Singapore and Saudi Arabia, and upgrading its Private Banking centre in London.
Brian Shegar, General Manager, Singapore, and Head of Asia Pacific, Emirates NBD, received the award at a gala event held recently in Singapore, after the division had been shortlisted among a group of finalists that included major international banks, and then named the winner by a panel of judges.
“We are delighted to receive the award for ‘Outstanding Private Bank,’ especially among such strong contenders in the international wealth management arena,” said Shegar. “This award serves as testament to our significant achievements and sustained expansion since the division was formed in 2007. Our success can be attributed to our, personalised approach to managing our clients’ wealth, and our ability to meet their evolving requirements amidst volatile market conditions.”
“The division has witnessed rapid expansion and healthy growth year-on-year,” said Pierre Pissaloux, General Manager of Wealth Management, Emirates NBD. “We currently employ 191 staff, including 90 relationship managers and 35 investment specialists. This is a substantial expansion of 400% in just four years since the division was founded. Our client portfolios have also increased by 348% over the last four years, which is a reflection of the strong bonds of trust we have built with our clients.
“Further, our ability to succeed stems from the experience of our multinational team, coupled with our in-depth knowledge of the region,” he added. “Based on that insight and experience, we are focused on satisfying our clients’ requirements for sensible, sustainable wealth preservation strategies and sound, long-term financial advice.”
The annual award programme was organised by Private Banker International, the leading journal for the global wealth management industry. The publication’s editor, Nicholas Moody, said: “The largest bank in the UAE, Emirates NBD must be singled out as a local bank that is aspiring to the standards set by its competitors in Europe and North America.
“Their investment philosophy centres on a long-term perspective and search for true value, strong due diligence on investment opportunities and a measured approach to risk. It also has a top-end technology offering, giving clients access to cutting-edge applications and reporting,” he said.
The PBI awards are regarded as among the most credible in the industry, voted by the industry for the industry. They are based on a rigorous selection process, which starts with nominations from industry professionals, including the readership of PBI. Nominees are then shortlisted and submitted to a panel of judges, who select the finalists in each award category and the overall winners.