Tariq Bin Hendi promoted to Executive Vice President and Head of Products & Advisory at Emirates NBD Group

Salman Bajwa promoted to Senior Executive Officer at Emirates NBD Asset Management

Dubai, United Arab Emirates, 26 April 2017: Emirates NBD Asset Management, one of the region’s leading asset managers with US$ 3.5 billion of assets under management, has announced the appointment of Salman Bajwa to the position of Senior Executive Officer. He takes over from Tariq Bin Hendi who has been promoted to Executive Vice President and Head of Products & Advisory at Emirates NBD Group, in addition to retaining his role as Director of ENBD REIT.

Suvo Sarkar, Senior Executive Vice President & Group Head, Retail Banking and Wealth Management at Emirates NBD commented:

“The progress of Emirates NBD Asset Management under the guidance of Tariq Bin Hendi has been remarkable. His ability to steer this organization through challenging times, while achieving growth and expansion targets is commendable. Tariq was instrumental in overseeing the successful listing of ENBD REIT on Nasdaq Dubai, in addition to leading the asset management business to another year of milestones in both revenue and asset growth. It is my pleasure to congratulate Tariq Bin Hendi on his promotion to Executive Vice President and Head of Products & Advisory at Emirates NBD Group.”

Tariq Bin Hendi leaves his role as Senior Executive Officer having accomplished many feats, such as launching the India Equity Fund in partnership with UTI and expanding the business’ reach in Saudi Arabia, one of the organizations key target markets, by winning mandates for some of the largest pension funds.

Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory at Emirates NBD, said:

“I am delighted to assume my new role at Emirates NBD. I look forward to continuing to work with the Emirates NBD Asset Management team and to strengthening even further the overall products and advisory offering at ENBD. My successor, Salman Bajwa, is highly accomplished, his 9 year history at Emirates NBD Asset Management and strong track-record of delivering consistently positive results is testament to his commitment to this organization. I am pleased to welcome Salman to his new role as Senior Executive Officer."

Salman Bajwa established the institutional sales team at ENBD Asset Management in 2013, helping it to become the asset manager of choice for liquid regional strategies in the institutional space. As Head of Sales & Distribution, he delivered growth in assets under management of 28% in 2016 in very tough market conditions. Salman has been responsible for the business, growing its asset base three fold over the last 4 years, transforming it from being simply a product provider to in-house distribution channels, to the leading asset manager in the region.

Commenting on his new position, Salman Bajwa, Senior Executive Officer at Emirates NBD Asset Management said:

“I'm excited to be accepting this challenge and I would like to take this opportunity to thank the management for placing their confidence in me. My vision for this role is to maintain the organization's position as a thought leader in the asset management space by introducing new and innovative products manufactured internally or via partnerships with regional and global institutions.”

Salman Bajwa joined Emirates NBD Asset Management in June 2008 covering Sales to Private Banking and Institutional Clients before heading up the Sales and Distribution team. Prior to joining Emirates NBD Salman has held positions in UBS and PwC in New York and London.  

Salman will directly report to Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory.

About Emirates NBD:

Emirates NBD is a leading banking Group in the region. As at 31st March 2017, total assets were AED 452 Billion, (equivalent to approx. USD 123 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank currently has 222 branches and 1013 ATMs and CDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.

The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, Singapore, the United Kingdom and representative offices in India, China and Indonesia.

The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. For more information, please visit: www.emiratesnbd.com

About Emirates NBD Asset Management:

Emirates NBD Asset Management Limited (Emirates NBD Asset Management), established in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority as a Category II Firm, is the wholly owned asset management business of Emirates NBD Bank, one of the largest banks by assets in the MENA region. Emirates NBD Asset Management provides a wide range of investment solutions, from in-house managed public funds to tailor-made discretionary solutions. It manages funds across a variety of asset classes, including MENA equity and global fixed income, global risk profiled solutions, UAE real estate, and a wide range of Shari'a compliant instruments, structured to cater for diverse risk appetites.9

Each of the Emirates NBD Asset Management managed funds are currently domiciled in either Jersey (regulated by the Jersey Financial Services Commission) or Luxembourg (regulated by the Luxembourg Commission de Surveillance du Secteur Financier). As at 30th June 2016, Emirates NBD Asset Management had assets under management of approximately USD 3.5 billion.

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© Press Release 2017