NBAD Private Bank (Suisse) SA, the 100% owned private banking subsidiary of the National Bank of Abu Dhabi (NBAD), has successfully acquired its premises, a prestigious building at 5, Quai de l’Île in Geneva.
The building, situated on the exclusive island at the end of the famous luxury goods shopping street of Rue du Rhône, has been the home of NBAD Private Bank (Suisse) SA since its launch in mid 2007.
Khaled Suleiman, General Manager of NBAD Private Bank (Suisse) SA commented “This is a further step in the dynamic growth since our launch in mid 2007. After successfully starting our private bank in 2007, adding trade finance services in 2008, it was a natural move for us now to buy the building we occupy. This allows us to fully benefit from our existing substantial internal renovation investments within the building as well as offering capacity for further growth”.
Michael Tomalin, Chairman of NBAD Private Bank (Suisse) SA, and Group Chief Executive of the National Bank of Abu Dhabi (NBAD) said “We continue to see Geneva as the world capital of Private Banking. Our High Net Worth private banking clients find the quality of the private banking services offered in Switzerland without parallel in the world. Therefore, the National Bank of Abu Dhabi had no hesitation in making this additional commitment to its Swiss Private Bank and to the Swiss private banking industry in general”.
© 2009 Mena Report (www.menareport.com)
