U.A.E.'s Emirates NBD Capital Says CEO Kamran Wajid Leaves Bank

  • Wajid leaves after more than 17 years at Dubai-based bank
  • He played a key role in Dubai's debt restructuring deals

Mohammad Kamran Wajid, chief executive officer of the investment banking unit of Emirates NBD PJSC, the United Arab Emirates’ second-biggest bank, has resigned to pursue other opportunities.

Emirates NBD will announce a replacement for Kamran Wajid, 45, in due course, a bank spokesman said in response to questions Monday from Bloomberg News. He was appointed CEO of Emirates NBD Capital in May 2012 and oversaw syndicated loans, debt capital markets and international wholesale banking for the Dubai government-owned lender.

Emirates NBD was the seventh-biggest arranger of bond sales last year in the six-nation Gulf Cooperation Council, which includes Saudi Arabia, Qatar and Bahrain, according to data compiled by Bloomberg. It was ranked ninth on the GCC syndicated loans league table, a list that ranks banks according to the amount of money they helped clients raise.

Emirates NBD last month reported a better-than-expected 39 percent jump in full-year profit to 7.12 billion dirhams ($1.94 billion), helped by more than 2 billion dirhams in writebacks of bad loans and provisions. The bank expects loan growth to slow to the mid single-digit range this year, from 10 percent in 2015, amid the plunge in oil prices.

Kamran Wajid has been at Emirates NBD for more than 17 years and was earlier general manager of its financial institutions business. He played a key role in negotiating debt restructuring deals for Emirates NBD with Dubai World, Dubai Group LLC, Dubai International Capital LLC and Amlak Finance PJSC. He was on the board of investment bank Shuaa Capital PSC and also worked at Mashreqbank PSC and National Bank of Abu Dhabi PJSC in their corporate finance divisions.

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