Emirates NBD has appointed Mohammad Kamran Wajid as its new chief executive of Emirates NBD Capital, the firm’s investment banking subsidiary based in Dubai. He replaces Suresh Kumar, ex-CEO who retired earlier this year.

The appointment is subject to regulatory approval.

In his new role, Kamran's task will be to transform the firm’s investment banking business into a global platform, offering products and services with a special focus on equity capital markets, debt capital markets, corporate / financial advisory and mergers & acquisitions advisory, the firm said in a statement.

The platform will also operate as an independent business development arm for Emirates NBD Group.

Kamran has been with the Emirates NBD Group for over 14 years.

There have been a number of comings and goings at Emirates NBD. Gary Dugan, who had been chief investment officer and acting general manager, has left to join Coutts as CIO for Asia and the Middle East. On the other hand, Emirates NBD earlier this year appointed Jamal bin Ghalaita as the new chief executive of Dubai Bank, recently acquired by Emirates NBD, making it a wholly-owned subsidiary.