ADCB launches regionally distinctive private banking

Abu Dhabi / EMIRATES BUSINESS

Abu Dhabi Commercial Bank (ADCB), announced the launch of “ADCB Private”, a new private banking proposition providing globally sophisticated banking and wealth management solutions for high-net-worth customers, delivered from the UAE.
Wealthy clients in the region and the UAE have historically had to seek international banking and investment services that required them to deal with overseas banks. “ADCB Private” introduces a new style of banking in the UAE that represents the absolute pinnacle in service delivery. The new proposition offers tailored holistic financial solutions to high-net-worth customers, which meets their complex and sophisticated requirements and provides convenient access to global investment and capital market opportunities. In addition to wealth strategies, asset management, succession planning solutions, delivered through highly experienced partners, the new service provides tailored lending solutions and lifestyle privileges, complemented by proactive personal service.
“ADCB Private” clients benefit from a dedicated client Relationship Manager in the UAE and clients will also have access to ADCB’s offshore banking facilities in Jersey. The Relationship Manager, backed by a team of expert advisors, will support the customer in crafting and implementing innovative financial strategies to help ensure the optimal management of the customers’ wealth. “ADCB Private” will also provide access to a wide range of transaction banking products that cater to business needs.
ADCB has appointed Mr. Mark Peters to lead “ADCB Private”, as the new Head of Private Clients and Wealth Management. Mr. Peters’ banking career spans 25 years, including senior international assignments with leading global organizations such as Goldman Sachs, Citigroup Private Bank, Jefferies LLC, Credit Suisse First Boston and Deutsche Bank.
Mr. Peters said: “ADCB Private offers a new banking approach for sophisticated clients in the UAE. Our ambition is to fill the regional service and product gap in-between local and international banks by providing uncompromising private banking solutions to high-net-worth clients in the UAE and GCC. Our ultimate aim is to offer convenience and innovative banking solutions from the UAE, without having our clients depend on the private bankers who routinely fly in from London or Geneva. We have an unwavering ambition: to bring a new era for private banking to the UAE.”
Mr. Ala’a Eraiqat, Chief Executive Officer at ADCB, said: “We have followed a focused strategy at ADCB to build our reputation as leaders in banking innovation, performance and service, and these are characteristics at the heart of “ADCB Private”. Our new private banking propostion is a natural consequence of the insights we have gained through listening to our clients: the bank is now able to deliver internationally sophisticated wealth strategies and banking solutions at a local level. Through innovation and tailored wealth offerings, “ADCB Private” will support Abu Dhabi as it becomes the ‘New Capital of Capital’.”
“ADCB Private” customers will have access to ADCB Private Concierge by Quintessentially Lifestyle, and indulge in a priveleged lifestyle, with a specially designed package of services and experiences that fits their personal needs. Clients will also receive a unique ADCB Private World Elite MasterCard, which is made of titanium alloy and is the first metal card to be offered by a bank in the region.