Clients of ADCB Private can expect a dedicated client relationship manager based in the United Arab Emirates (UAE) and will also have access to ADCB’s offshore banking facilities in Jersey, ADCB said in a statement on Tuesday.
“In addition to wealth strategies, asset management, succession planning solutions, delivered through highly experienced partners, the new service provides tailored lending solutions and lifestyle privileges, complemented by proactive personal service.”
Industry expert chief
Industry veteran Mark Peters will run the new operation as head of private clients and wealth management. Peters has a banking career spanning 25 years, including senior international assignments with Deutsche Bank, Goldman Sachs, Citigroup Private Bank, Jefferies LLC, and Credit Suisse First Boston.
Peters said: “Our ambition is to fill the regional service and product gap in-between local and international banks by providing uncompromising private banking solutions to high-net-worth clients in the UAE and GCC (Gulf Cooperation Council countries).
"Our ambition is to fill the regional service and product gap in-between local and international banks."
“Our ultimate aim is to offer convenience and innovative banking solutions from the UAE, without having our clients depend on the private bankers who routinely fly in from London or Geneva.”
Titanium credit
ADCB Private’s customers will have access to concierge services from Quintessentially Lifestyle, and will also receive a unique ADCB Private World Elite MasterCard made of titanium alloy, which is the first metal card to be offered by a bank in the region.
Ala’a Eraiqat, ADCB’s chief executive said the new private banking operation was a natural consequence of the insights the bank had gained from listening to its clients.
“The bank is now able to deliver internationally sophisticated wealth strategies and banking solutions at a local level. Through innovation and tailored wealth offerings, “ADCB Private” will support Abu Dhabi as it becomes the ‘New Capital of Capital’.”
