Abu Dhabi (November 17, 2012) – The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has been selected by judges at The Banker & Professional Wealth Management Magazine as the “Best Private Bank in UAE for 2012” in the 4th Annual Global Private Banking Awards. This latest accolade adds to NBAD’s several awards.
“At a time when private banking has never been under greater scrutiny, your bank has been recognised as representing the very best in the industry,” the management of Professional Wealth Management and The Banker, said about NBAD’s section as the Best Private Bank in UAE
The Global Private Banking Awards recognise and reward excellence by judging private banks from The Americas, Europe, Middle East and Asia according to rigorous qualitative and quantitative criteria
Banks were judged on the progress they have made during 2011 in their business/growth strategy and how they were able to boost inflows and profits. The panel of 8 independent judges also evaluated client relationship management blueprints, looked at how banks have adapted portfolio management, asset allocation and product strategy to meet investors’ changing needs. The education, training of advisers, due diligence and risk management were also key areas of evaluation.
“We are very pleased to have been recognized as the “Best Private Bank in the UAE for 2012 by The Banker and Professional Wealth Management magazine”, said Ashraf Mazahreh, the Head of Private Banking at NBAD. It is an honor to receive this accolade which reflects our commitment in providing best of breed offerings. Our deep understanding of clients’ true needs, blended with competent private bankers and creative financial solutions are key components to our success. Our goal is to provide our clients with trusted advice to preserve and grow their wealth through systematic and relevant advice on a consistent basis rather than focusing on a quick sale of investment products. “We also undertake a thorough assessment of client’s risk tolerance to different asset classes”, Mr. Mazahreh added.
NBAD, ranked since 2009 as one of the 50 Safest Banks in the world and the safest bank in the Middle East, offers a fully integrated value proposition and tailored investment solutions through a team of qualified private bankers and investment advisors who have the necessary skills to identify the best investment opportunities in fixed income, structured products, mutual funds, alternative investments and money market instruments. Custody in addition to discretionary and investment advisory services are offered through other businesses within Global Wealth division. NBAD is the first licensed Custodian Bank in UAE and the Asset Management Group has been named as the “Best Asset Management House in the Middle East by International Takaful Awards and the UAE Asset Manager of the year in Mena Fund Manager Performance Awards”.
“NBAD Private Banking dovetails its client focused solutions with a full range of products and services offered by NBAD group from its global network that stretches across 15 countries from China to the United States; this boost our proposition and delivery capability to cater for client demand,” Ashraf Mazahreh commented.
“In addition to our onshore booking center; private clients have also the choice to implement their investment strategy offshore via NBAD Private Banking (Suisse SA) with an open-architecture platform supported by highly experienced investment specialists. Trusts, wealth protection and estate planning are also be offered through our wholly-owned “NBAD Trust Company (Jersey) Limited”, Mr. Mazahreh said. “We are dedicated to continue developing innovative products and follow a client – centric approach in order to offer truly holistic investment services through generations.