< Previous30 June 2024 POWER OF FINANCE 2024 SHAYNE NELSON Group CEO Emirates NBD Nelson, a seasoned banker with over 30 years of industr y experience, currently holds the esteemed positions of Group CEO and Director at Emirates NBD, one of the largest banks in the UAE. Under his stewardship spanning eight years, Emirates NBD has witnessed remarkable expansion in both operational reach and digital prowess. Before assuming his roles at Emirates NBD, Nelson amassed a wealth of experience in various senior capacities across the Asia Pacific and the Middle East. Notably, he served as the CEO of Standard Chartered Private Bank in Singapore for three years, concurrently chairing the Islamic advisory board. Stationed in Dubai, he held the role of Regional CEO at Standard Chartered Bank for the Middle East and North Africa from 2006 to 2010. His career also encompasses leadership roles such as CEO and Managing Director at Standard Chartered Bank Malay- sia, Regional Head of Corporate and Institutional Banking Audit for Asia Pacific and India, and Regional Head of Credit for Hong Kong, China, and Northeast Asia. He spearheaded Corporate and Institutional Banking at Westpac Banking Corporation in Western Australia. Under his strategic direction, Emirates NBD’s market capitalisation has soared from $4.3bn (AED15.8bn) to approximately $24.5bn (AED90bn), while assets surged from $84bn (AED308bn) to $190bn (AED700bn). Noteworthy acquisitions, including the successful $2.7bn purchase of DenizBank in Turkey, have bolstered the bank’s standing. In addition to his instrumental role as Group CEO, Nelson holds directorships in various Emirates NBD subsid- iaries and affiliated entities. He is a distinguished member of esteemed bodies such as the International Monetary Conference and the Advisory Board of the University of Wollongong in Dubai. His three-decade journey navigating the intricacies of the Asia Pacific and Middle Eastern bank- ing landscapes underscores his unparalleled expertise and leadership in driving corporate growth. About Emirates NBD Emirates NBD continues to transition to data-driven, digital operations while expanding its focus on ESG and renewable energy finance. The branch presence in KSA more than doubled to 18 branches over the last year and the bank has refreshed its Egyptian franchise, as their enhanced interna- tional footprint and digital capabilities drove further growth. Emirates NBD’s profit surged 67 percent to a record $1.8bn (AED 6.7bn) in the first quarter of 2024 compared to the previous quarter and up a strong 12 percent year on year, propelled by regional growth, increased transaction volumes, a low-cost funding base, and substantial impaired loan recoveries. In May 2024, Emirates NBD announced a long-term strategic partnership with Miral, the premier creator of immersive destinations and experiences in Abu Dhabi. As part of this exceptional collaboration, Emirates NBD will serve as the Official Banking Partner across multiple Miral attractions, including Ferrari World Yas Island, Abu Dhabi, Yas Waterworld Yas Island, Abu Dhabi, Warner Bros. World™ Yas Island, Abu Dhabi, CLYMB™ Yas Island, Abu Dhabi, and SeaWorld Yas Island, Abu Dhabi. UAEarabianbusiness.com 31 POWER OF FINANCE 2024 SHEIKH WALEED KHAMIS AL HASHAR CEO Bank Muscat In 2004, Al Hashar began his professional journey with Bank Muscat, marking the inception of a career that would culmi- nate in his current role in 2019. Over the span of more than three decades, he has significantly influenced both the bank- ing sector and the oil and gas industries, earning recognition for his wealth of expertise and insightful leadership. Before his tenure at Bank Muscat, Al Hashar held senior roles at renowned organisations such as Petroleum Develop- ment Oman and HSBC Bank Middle East. These experiences provided him with valuable insights into strategic leadership and equipped him with the necessary skills to navigate the complexities of financial and energy landscapes with precision. Al Hashar holds a Bachelor of Science degree and a Master of Business Administration from California State University in Sacramento, USA. Additionally, his pursuit of excellence led him to attain a postgraduate diploma in General Manage- ment from Harvard Business School, enhancing his leadership capabilities and strategic outlook. About Bank Muscat Established in 1982, Bank Muscat has solidified its presence as a leading financial institution in Oman, boasting a widespread network comprising 181 branches across the Sultanate. Addi- tionally, the bank extends its services with two branches in Kuwait and KSA, strategically positioning itself in key markets. Complementing its physical footprint, Bank Muscat operates three representative offices in the UAE, Singapore, and Iran. With a commitment to serving its customers, Bank Muscat has cultivated a loyal customer base exceeding 2.6 million individuals. This extensive customer network underscores the bank's dedication to providing compre- hensive financial solutions and fostering enduring relationships within the communities it serves. Through its robust network and dedication to enhancing financial services accessibility, the bank plays an instrumental role in empowering a broad and diverse customer base throughout the country. Across corporate banking, personal banking, investment banking, Islamic banking, treasury, private banking, and asset management, Bank Muscat boasts the largest branch network and electronic channels in Oman. Additionally, it maintains branches in KSA, Kuwait, and repre- sentative offices in Dubai, Iran, and Singapore. On 15 April 2024, Bank Muscat unveiled its preliminary unaudited financial results for the three-month period ending on 31 March 2024. During this period, the bank reported a net profit of $141m, reflecting a commendable increase of 5.7 percent compared to the corresponding period in 2023. In May 2024, Bank Muscat was honoured with the Sustainability Award in the ESG category at the Oman Sustainability Week Award ceremony held at the Oman Convention and Exhibition Centre (OCEC). This recogni- tion underscores the bank's commitment to implementing sustainable practices in alignment with Oman Vision 2040 and the United Nations’ Sustainable Development Goals (SDGs). Throughout its more than 40-year journey, Bank Muscat has demonstrated a strong presence in sustainability and corporate social responsibility (CSR). The bank contin- ues to devise strategic plans aimed at further enhancing its role in CSR and actively engages in sustainable initiatives that benefit the community. OMAN32 June 2024 POWER OF FINANCE 2024 SHIRISH BHIDE CEO United Arab Bank Bhide is a highly accom- plished banker with a track record of delivering results across various disciplines and geographies. His career began at Citibank in India, where he spent nearly 12 years playing key roles in both the Consumer and Corporate segments. In early 2003, he moved to head Citibank’s NPC and corporate business in Sub-Saharan Africa, overseeing operations in 32 countries. Based in South Africa, he later became the Chief Exec- utive Officer of Citibank Uganda in 2006. Bhide subse- quently transitioned to the National Commercial Bank in Jeddah, KSA, in 2009, assuming the role of Head of Risk Management for its international businesses, providing global risk oversight for Treasury, Investments, and Project Finance. Joining FGB as the Chief Credit Officer, Bhide was later promoted to Acting Head of Wholesale & International Bank- ing in June 2016, before the merger of FGB and NBAD. Following the merger, he was appointed as Group Chief Credit Officer (GCCO) at First Abu Dhabi Bank (FAB). In this capacity, he was directly responsible for all credit underwriting activities globally, overseeing group-wide credit administration, credit restructuring, and legal departments. In April 2021, he was appointed as Group Head of Corporate, Commercial and International Banking at FAB, a position he held until May 2022. Bringing over 30 years of robust banking expertise, particularly in corporate banking, credit risk, and risk management, Bhide assumed the role of CEO at United Arab Bank (UAB) on 1 June 2022. This appointment aligns with the bank’s digital transformation strategy, expansion into new business opportunities, and commitment to enhancing shareholder value. Bhide holds a postgraduate diploma in accounting and finance from the London School of Econom- ics (UK) and an MBA in Marketing from the University of Pune, India. He has also been a member of the Board Audit Committee at Wataniya SA since April 2022. About United Arab Bank United Arab Bank (UAB) is recognised as one of the oldest and most innovative banking and financial services providers in the UAE. With its headquarters in Sharjah, UAB operates through 6 branches and 21 ATMs/CCDMs across the UAE, offering retail and corporate banking services. In April 2024, UAB disclosed its financial results for the three months ending 31 March 2024, reporting a net profit after tax of $18m for the first quarter of 2024, marking an increase from $15m in the corresponding period of 2023, which signifies a year-on-year growth of 25 percent. On 20 May 2024, UAB entered into a partnership with Network International (Network), the MEA region's prom- inent facilitator of digital commerce solutions, to avail Network International’s omnichannel payment solutions in the UAE. This collaboration will enable UAB to offer to its corpo- rate clients Network’s merchant acquiring, card acceptance, payments services, and a complete suite of technology-driven payments solutions through a secure and integrated omnichannel strategy. UAEarabianbusiness.com 33 POWER OF FINANCE 2024 STEFAN KIMMEL CEO M2 CEO of M2, Stefan Kimmel’s career in the fintech space is defined by senior leadership roles, where he has demonstrated a keen aptitude for integrating digital innovations with traditional financial services. As a highly experienced executive in fintech and crypto, Kimmel has centred his work around developing and championing the UAE, as well as the region more broadly, as a credible global hub of crypto innovation. In his current role as CEO at M2, the exchange has become known for its regulatory compliance, successfully navigating sophisticated regulatory frameworks to secure necessary licenses across multiple jurisdictions. Central to M2’s global ambitions is Kimmel’s understanding that the UAE’s regulatory sophisti- cation and maturity are providing clear and secure guardrails for entrepreneurs and users alike. He sees M2 as the leading edge of the next generation of crypto exchanges, focused on building a foundation of regulatory compliance that propels them to global scale and growth. Kimmel’s leadership has been central to guiding M2’s prod- uct innovation and has focused on providing users with intuitive, accessible, and efficient trading experiences, prioritising customer satisfaction and ease of use in every aspect of the platform's operations. He has led the development of high-yield investment products that utilise cutting-edge technology to maximise returns and ensure superior security for clients’ invest- ments in the crypto space. Before joining M2, Kimmel served as the Chief Commercial Officer at Kraken MENA, where he played a pivotal role in expanding the company’s market pres- ence across the Middle East and North Africa, enhancing its product offerings, and significantly boosting user engage- ment and satisfaction. His tenure as Chief Operating Officer at the Commercial Bank of Dubai further underscores his versa- tility and strategic acumen. In this capacity, Kimmel was instru- mental in driving major digital transformation initiatives, which significantly enhanced the bank’s operational efficiencies and customer service standards. Under his leadership, the bank intro- duced several ground-breaking digital banking products that set new benchmarks for the industry. Kimmel’s formative years in the industry were shaped by significant stints at prestigious institutions, such as PWC, IBM, and Oliver Wyman in the Middle East. These roles provided him with a robust foundation in financial consulting and technology solutions, where he led numerous projects focused on strategic growth, operational restructuring, and technology deployment. His work helped redefine client strategies and operational frame- works, setting the stage for sustained growth and profitability. Throughout his career, Kimmel has been a fervent advocate for digital transformation and innovation. His deep insights into the dynamics of digital currencies and blockchain tech- nology have established him as a respected thought leader in the fintech arena. UAE $2.52BN The capital secured by crypto and blockchain markets during the rst quarter of this year, according to PitchBook data34 June 2024 POWER OF FINANCE 2024 WALEED AL MOGBEL Managing Director, CEO and Board Member Al Rajhi Bank With a career spanning more than 24 years in the financial and bank- ing sector, Al Mogbel has showcased extensive expertise in areas such as auditing, tax, financial management, and strategic consultation. His successful tenure at Al Rajhi Bank has been highlighted by significant accomplishments and leadership positions, demonstrating his strategic vision and operational excellence. Al Mogbel has held key executive roles within the organ- isation, including serving as the Chief Financial Officer in 2010, overseeing financial planning and performance manage- ment to drive sustainable growth. Subsequently, his appoint- ment as the Chief Operations and Information Technology Officer in 2014 positioned him at the intersection of opera- tional efficiency and technological advancement, leading trans- formative initiatives to enhance the bank's digital capabilities. In 2019, Al Mogbel was appointed Deputy CEO by the bank. Throughout his time at Al Rajhi Bank, he has played a vital role in leading multiple transformational projects that have propelled the bank to new heights of success and competitive- ness in the dynamic financial landscape. In addition to his duties at Al Rajhi Bank, Al Mogbel serves as a board member at Al Rajhi Takaful, contributing strategic insights to the insur- ance sector. Furthermore, his roles as Chairman of Emkan Finance and Neoleap underscore his dedication to fostering innovation and growth across diverse financial sectors. About Al Rajhi Bank Al Rajhi Bank, firmly rooted in Islamic banking principles and values and headquartered in Riyadh, serves as a leader in harmo- nising modern financial requirements with Sharia compliance. In a strategic move in March 2024, Al Rajhi Bank collabo- rated with flynas to introduce an exclusive co-branded credit card. This joint venture aims to provide customers with unique benefits and rewards tailored to their travel and life- style needs. The Al Rajhi Bank flynas co-branded credit card offers a variety of features aimed at enhancing the travel experience for cardholders. Cardholders can enjoy up to 60,000 complimentary welcome bonus Nasmiles, a compli- mentary upgrade to nas Prime membership, access to airport lounges, and a range of lifestyle benefits and offers on their daily transactions using the card. This partnership is intended to strengthen customer loyalty and enhance the overall bank- ing and travel experience for cardholders. In May 2024, Al Rajhi Bank announced the signing of a supplier financing contract worth $433m with Zain Saudi Arabia, the predominant provider of communication and digi- tal services in the Kingdom. This financing agreement aims to support Zain in expanding its fifth-generation (5G) network and upgrading its infrastructure to cater to the business sector. Through this investment, Zain Saudi Arabia plans to substantially enhance its qualitative investments in its 5G network nationwide, enriching its portfolio with cutting-edge digital solutions and applications tailored to individual customers and the business sector. This initiative is expected to offer the most advanced and latest digital experiences. This recent agreement further solidifies the strategic partnership, underscoring the mutual dedication to advancing the digital landscape in KSA. KSA+971 54 308 6000 sales@byrevolution.com eywa.ae CAN A BUILDING HELP Y OU BE HAPPIER, HEALTHIER, & MORE FFECTIVE IN YOUR LIFE? 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