ADCB launches new pri­vate bank­ing divi­sion

The Pak Banker - - COMPANIES/BOSS -

DUBAI: Abu Dhabi Com­mer­cial Bank (ADCB) is launch­ing a new pri­vate bank­ing divi­sion in an ef­fort to at­tract high- net worth cus­tomers in the re­gion that it says cur­rently rely on fly- in, fly- out pri­vate bankers from Europe. The ma­jor­ity sta­te­owned bank said Sun­day it has ap­pointed 25year bank­ing vet­eran Mark Pe­ters as head of its new Pri­vate Clients and Wealth Man­age­ment unit. The new divi­sion will of­fer wealth strate­gies, as­set man­age­ment and suc­ces­sion plan­ning so­lu­tions, ac­cord­ing to an emailed state­ment. Clients will have ac­cess to the bank's off­shore fa­cil­i­ties in tax haven Jersey, the bank said.

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