Dubai , United Arab Emirates- January 26, 2011 ; Gary Dugan, Chief Investment Officer, Private Banking, Emirates NBD gestures during the media conference in Dubai . ( Satish Kumar / The National )
Emirates NBD said its chief investment officer Gary Dugan has resigned from his post. The bank didn’t give a reason for the decision.
Mr. Dugan has been chief investment officer for the bank’s wealth management division since January 2016. Prior to that, he was the chief investment officer at the National Bank of Abu Dhabi.
“We can confirm that Mr. Gary Dugan, Chief Investment Officer, has stepped down from his role at Emirates NBD,” the bank told the National in an e-mailed statement. “We would like to thank Gary for his tremendous contribution to the company, and wish him every success as he pursues other opportunities.”
Emirates NBD has one of the biggest asset management businesses among UAE banks. Banks in the country have been bolstering wealth management visions in recent years, as low rates have eroded profitability from the business of giving out loans, and have forced banks to boost fee and commission businesses.
Mr. Dugan was not immediately available for comment.