National Bank of Abu Dhabi launches new dealing room

Greenspan, who served for more than 18 years as the Chairman of the Fed., lauded the NBAD's state-of-the art dealing room handled by professional and dedicated cadres to provide innovative financial solutions and products.

"We are delighted Dr. Alan Greenspan has attended the official launching of the new dealing room, especially as it comes in our 40th anniversary year. As the number one bank in the UAE, we are always keen to provide best and wide range of banking solutions and products to our esteemed customers," said Mr. Mahmood Al Aradi, Senior General Manager of NBAD's Financial Markets Group.

"The setup of the new dealing room, which is on par with the international standards, will enable our professional and dedicated staff to offer best trading services in the local, regional and international markets," he added.

The Financial Markets Division, which contributed Dhs283m, or approximately 11% of NBAD group's profits in 2007, provides wide range of financial products and services such as money markets and capital guaranteed investment notes, primary and secondary fixed income, futures, options, commodities, foreign exchange and structured solutions.

"Institutional and Corporate Coverage Group who harness and leverage on Financial Markets Division's product partners' and capabilities to provide superior customer coverage in all financial products through dedicated client coverage teams such as the Institutional Coverage Departments who are the main door opener and FMD's global relationship manager for all Banking and Non-Banking Financial Institutions. The Structuring and Derivatives Department are a true market leader in terms of structuring capabilities, innovation, and pricing. The structuring team is equipped to generate both investment and hedging ideas on all asset classes including exotic derivatives and restructuring. Last but not least is the Branch Coverage Department who services all NBAD's regional and international branches in terms FX, MM, and cross-selling for the rest of the Financial Markets Division", Al Aradi Said.

"Debt and Capital Markets Group' three teams manage portfolio of high rates and capital guaranteed notes, make markets in all GCC and regional issues whether bonds, sukuk or convertibles, and syndicate professionally any mandate that NBAD is awarded or jointly working solo or with international names in placing bonds in the region," he explained.

He further added: "International Money Markets Group manages the Bank's overall liquidity needs, secures medium and long term funding. The IMM is also the largest market maker in AED spot, forward and cash and has recently enhanced it's capabilities in pricing other GCC currencies as well."

"The Foreign Exchange Department has wide capacity to execute large volumes of foreign exchange trades coming from branches, corporate, and institutional desks marketing efforts. We aim to have full 24-hour foreign exchange coverage to support customer flows," Senior General Manager of NBAD's Financial Markets Group concluded.

Noteworthy, (NBAD), hosted last week a Q&A session with Dr. Alan Greenspan at the start its Awareness Sharing Knowledge (A.S.K.)" lecture series in 2008. In addition, NBAD was the exclusive sponsor of the 1st Abu Dhabi corporate leadership forum (ADCLF) held under the patronage of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces.

The extraordinary event, organized by Tri Star Events LLC (TSE), featured Dr. Alan Greenspan; Rt. Hon. Lord Christopher Patten, former Governor of Hong Kong (1992-1997); Carly Fiorina, the first, and, to date, only woman to lead a Fortune 20 company; serving as Chairman and CEO of Hewlett-Packard Company (1999-2005); John Sculley former Pepsi and Apple CEO, who is also co-founder and Managing Partner in London based SCF Growth Equity; H.E. Sultan bin Nasser Al Suwaidi, Governor of the United Arab Emirates Central Bank since 1991; and Pam Woodall, who has been the Asia Economics Editor of The Economist since September 2006.