Emirates NBD, the largest bank in the Middle East by assets, has appointed Shayne Nelson from Standard Chartered as the group’s new chief executive, a move that sees the high-profile executive leave a firm at which he has worked since 1997.

Emirates NBD, the largest bank in the Middle East by assets, has appointed Shayne Nelson from Standard Chartered as the group’s new chief executive, a move that sees the high-profile executive leave a firm at which he has worked since 1997.  

Nelson was chief executive for Standard Chartered's private banking arm and responsible for small and medium-sized enterprise banking. He also served as the chairman of Standard Chartered Saadiq Islamic Banking and was the director of the Standard Chartered Board for China.

The news of Nelson’s departure comes shortly after another senior manager left the UK-listed bank that earns the bulk of its revenues outside the UK in regions such as Asia. Low Wei Ling, head of Singapore and global markets private banking, has left the firm. Low had held the role for two and a half years, overseeing a team of private bankers covering Singapore, Australia and New Zealand, Europe and the Middle East.

During his time at Standard Chartered, Nelson has worked across wholesale banking, risk and most recently, before joining consumer banking, in governance, holding both country and regional CEO roles in Malaysia, UAE and the Middle East. His final day at Standard Chartered’s private bank is 9 August. It is understood that an announcement will be made in due course.

He is a graduate member of the Australian Institute of Company Directors and an Associate Fellow of the Australian Institute of Managers. Nelson previously held a number of positions in two of Australia’s major banks, Westpac Banking Corporation and National Australia Bank.

Nelson replaces Rick Pudner, who is set to leave Emirates Emirates NBD at the end of 2013 following seven years in the job.

In the interim, Judy Hsu, global head of wealth management and priority and international banking, will assume additional responsibility for the private bank, this publication understands.  Raheel Ahmed, regional head of consumer banking, Middle East, Pakistan and Africa will assume additional responsibility for CB Islamic Banking, and Tim Hinton will report directly to me for SME Banking.

WB Islamic Banking reporting lines will remain unchanged and an announcement regarding the chairmanship of Standard Chartered Saadiq Islamic Banking will be made in due course, this publication understands.

The recruitment of Nelson is a sign of Emirates NBD’s ambitions. At the start of the year, BNP Paribas agreed to sell its entire 95.2 per cent stake in its BNP Paribas Egypt business to Emirates NBD for $500 million. In April, the bank announced a net profit in the first three months of this year of AED837 million ($227.9 million) - a rise of 31 per cent from a year ago and up 34 per cent from the previous quarter.