Standard Chartered has confirmed that Shayne Nelson, CEO of its private bank, will leave the lender to become the new group chief executive of Emirates NBD.
Nelson is due to leave Standard Chartered with effect from 9 August 2013 and will replace Rick Pudner, current CEO of Dubai’s largest lender, Emirates NBD.
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In a statement to PBI, Standard Chartered said that in the interim, Judy Hsu, global head of wealth management and priority and international banking, will assume responsibility for the private bank, and Nelson’s successor will be appointed in due course.
"As CEO of Standard Chartered’s private bank and group head of the SME business, Shayne has made a key contribution to the ongoing success of Standard Chartered, and we wish him well in his new role," Standard Chartered told PBI in the statement.
Hailing from Australia, Nelson was named one of PBI’s key ‘People of Influence’ in 2012. Nelson has years of Asia focused experience and he is currently based in Standard Chartered’s Singapore office. He was also director of the Standard Chartered Board for China.
In an interview with PBI in October 2012, Nelson had said that looking towards the future, he is most optimistic about the "growth and evolution of wealth in Asia". "Asia’s rich are different and have distinct needs from their counterparts in the West: They are younger, more entrepreneurial and more aggressive." he had added.
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By GlobalDataNelson also has extensive experience across the Middle East region, having served as the chairman of Standard Chartered Saadiq Islamic Banking and the regional CEO for Middle East and North Africa. He was also the CEO of the UAE region for Standard Chartered Bank.
Commenting on the new hire, Sheikh Ahmed Bin Saeed Al Maktoum, chairman of Emirates NBD, said, "We are confident that Shayne’s years of experience and expertise in the financial services industry will drive Emirates NBD to continue delivering excellent results while providing valuable returns to the group’s stakeholders."
Nelson, previously, has also held a number of positions in two of Australia’s ‘big four’ banks, Westpac Banking and National Australia Bank (NAB).
