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Senior Ex-RBC Wealth Manager For NRI Clients Has Joined Emirates NBD
Tom Burroughes
28 August 2012
Sumit Sibal, previously the head of global South Asia at RBC
Wealth Management, has left to join Emirates NBD in London as its head for non-resident Indian
business (UK & Europe), this publication has learned. Sibal, who joined Emirates NBD over a month ago, had previously spent eight years with Citi covering
the NRI market. In May, Emirates NBD appointed Mohammad Kamran Wajid as its
new chief executive of Emirates NBD Capital, the firm’s investment banking
subsidiary based in Dubai.
He replaced Suresh Kumar, ex-CEO, who retired earlier this year. Earlier this year, the bank said income for its consumer and
wealth management arm rose by 18 per cent in 2011 from a year before to AED3.91
billion ($1.06 billion), driven by a 22 per cent rise in net interest income and
rising fee income.