David Stewart has 26 years of banking experience in London, Philadelphia and Abu Dhabi, and has been resident in the latter since 1990. A well-known and respected member of the industry, David Stewart will head Standard Chartered's Abu Dhabi operations, which includes a large corporate banking portfolio, and a growing retail business.
"I am excited to be joining Standard Chartered Bank," said Mr. Stewart. "It's a great international bank with a leading franchise in Asia, Africa, and the Middle East. It is passionate about its customers' success, a strong business, and a clear strategy in the UAE. These all appeal to me as a winning combination."
The Bank recently reported its Group 2003 annual results, highlighting its UAE operations with separate reporting for the first time. The fourth largest market for Standard Chartered globally, the UAE continues to be a major contributor and a focus for the Bank.
"David is an expert banker with a deep understanding of the market," noted Ray Ferguson, Chief Executive Officer for Standard Chartered Bank UAE. "In the UAE, we have a leading position in our main Wholesale Banking products, and are building on these. In Consumer Banking, we are focusing on credit cards and wealth management.
"Abu Dhabi is a key part of our business, and David's leadership and experience will be a strong additional impetus to our business strategy here."
Standard Chartered opened its first branch in Abu Dhabi in 1961, and now has two branches in the emirate; and a further three branches in Dubai, one in Sharjah, and one branch in Al Ain. The Bank is a market leader in its chosen segments, including global markets, trade, transactional sales, cash management and lending for Wholesale Banking, and in credit cards and personal loans for Consumer Banking. The Bank is also expanding the success of new product offerings; in particular, its project finance and debt capital markets capabilities.
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Leading UAE banker moves to Standard Chartered
- United Arab Emirates: Monday, July 26 - 2004 at 11:08
- PRESS RELEASE
One of the UAE's top bankers has joined Standard Chartered Bank to head of the Bank's Abu Dhabi operations.
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Standard Chartered - leading the way in Asia, Africa and the Middle EastStandard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. It is one of the world's most international banks, with a management team comprising 70 nationalities.
Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.
It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, security services, foreign exchange, debt capital markets and corporate finance.
Standard Chartered is well established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability.
The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates.
Standard Chartered in the Middle East and South Asia
One of the leading international banks in the region, Standard Chartered has a branch network of 76 branches in 12 countries.
The UAE is the Bank's fourth largest market globally, and Standard Chartered has a commanding share in its chosen market segments. In the UAE, Standard Chartered has a network comprising eight branches and 22 automated teller machines (ATMs). A leader in investment services, credit cards, and personal loans, Standard Chartered is also the leading provider of cash management trade finance, and treasury products and services in the UAE.
Overall, the Middle East and South Asia region contributed over 11% of the Group's revenues in 2003, clearly demonstrating the Bank's strong network and expertise in the region.
For further information, contact:
Niall McLoughlin
Head of Corporate Affairs, Standard Chartered Bank
Tel: +971 (0) 4 5070467
Fax: +971 (0) 4 3594174
Mobile: +971 (0) 50 6251329
Email : niall.mcloughlin@ae.standardchartered.com
Or
Garry Nickson, MCS/Action, PO Box 20970, Dubai t: +971 4 3902960 f: +971 4 3908161
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, July 26 - 2004 at 11:08 UAE local time (GMT+4)
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