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Dubai’s Emirates NBD appoints new CFO, reports 63% rise in nine-month profit

Dubai’s Emirates NBD appoints new CFO, reports 63% rise in nine-month profit

The bank had announced in April that the outgoing CFO Surya Subramanian will return to Singapore to pursue family interests

Dubai’s biggest bank hired Patrick Sullivan from Standard Chartered as its group chief financial officer.

Sullivan will assume the role from January 1, replacing Surya Subramanian who will leave Emirates NBD PJSC about nine years. Sullivan is group financial controller at Standard Chartered, according to a spokesman for the Dubai-based bank.

Subramanian, also a former Standard Chartered banker, will return to Singapore to pursue family interests, Emirates NBD said in April.

Emirates NBD on Monday reported 63 per cent jump in nine-month net profit to Dhs12.5bn ($3.4bn), helped by a one-time gain from a stake sale in its card payments processing unit.

The bank is seeking to raise Dhs6.45bn from a rights share offering as it expands abroad and courts more foreigners to its stock.

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