NBAD appoints Alex Thursby as Group Chief Executive

Michael Tomalin will have served as NBAD's Group Chief Executive for 14 years and will stay on as a non-executive director to support the transition.

Michael Tomalin said, "It has been a huge privilege to have led NBAD through years of growth at home and turbulence in global markets. NBAD is positioned for strong sustained growth in the future. I wish Alex every success in taking the group forward. He will have my continued support from, as it were, the back benches."

H.E Nasser Alsowaidi, Chairman of NBAD, said, "On behalf of the Board I would like to thank Michael Tomalin for building NBAD strongly these past 14 years. Under his leadership the Group's earnings have multiplied over ten times and the group's footprint, both at home and abroad, in private banking, asset management, capital markets and investment banking has greatly expanded."

Alex Thursby is currently CEO of the International and Institutional Banking Division of ANZ. Over the last five years he has been responsible for devising and executing the strategy for ANZ's significant growth in Asia Pacific across Institutional, Commercial and Retail Banking. More recently, he was also made responsible for the Institutional Bank globally and has driven further development of its strategy and merger of the two divisions. This included a substantive restructuring delivering productivity improvement and an alignment of customer product and operational units to create a sustainable customer-driven strategy and business model.

Alex brings with him some 30 years of experience in international banking with substantial experience in Asia Pacific, Middle East, Africa, Europe, America, Australia and New Zealand. This has been focused across Institutional and Commercial Banking and Markets. He is extremely well regarded across the Market as a strong banking leader with a reputation for developing and growing businesses accompanied with a strong Risk Management approach. He is highly regarded by major corporations and financial institutions as a leading international banker.

Commenting on the future of NBAD, Alex Thursby said, "I am excited by the opportunities that lie ahead for NBAD as we move forward to achieve our vision to be recognised as the World's Best Arab Bank."

H.E Nasser Alsowaidi, Chairman of NBAD, said, "I am delighted we have attracted someone of Alex's calibre and experience to lead the management team at NBAD. NBAD has a clear and focused strategy in place, fully aligned with the Abu Dhabi Vision 2030. Alex's depth of banking knowledge, his leadership and people capabilities, his experience and network in UAE and across many markets in our existing and target footprint, particularly in Asia, will help enable effective execution of our growth plans."