Commercial Bank of Dubai announced the appointment of Mr Alain Renaud as its General Manager – Corporate, Commercial & Investment Banking as a part of its expansion strategy.
The new appointment, which is part of the organisational restructuring and realignment of the bank, aims to set the stage for CBD’s ambitious future growth plans.
Mr Renaud, who brings 23 years of global experience in corporate and investment banking, will help CBD in further strengthening its strong position in the market.
Commenting on his appointment, Mr Peter Baltussen, the Bank’s CEO said: “We are delighted to welcome Mr Renaud at the bank and wish him every success in his new role.”
“With his extensive experience in corporate banking, we are confident that Mr Renaud will add significant value to CBD and will represent an important addition to our management team and will contribute to our efforts to achieve the bank’s strategic objectives,” said Baltussen.
“The restructuring is aimed at providing the necessary focus and client centricity to ensure that we remain as competitive as possible in our chosen market segments,” he added.
Prior to joining CBD, Mr Renaud had held several key positions with a number of international financial institutions in New York, London, Paris and Dubai, in particular HSBC, Paribas and Credit Suisse First Boston.
The new key CBD executive has a strong track record of advising clients on strategic transactions in global markets, particularly in the Middle East where he successfully advised key clients on landmark transactions. Mr Renaud has been a regular advisor to some of the largest companies in the Gulf.
“CBD expects that Mr Renaud’s experience will allow its Corporate Banking and Commercial Banking divisions, both of which will now be under him, to continue and accelerate their growth in terms of product expertise, client coverage, client service, revenue addition and profitability,” said Mr Baltussen.
“Mr Renaud will also help the UAE clients of CBD develop and strengthen their international presence and assist foreign multi-nationals in expanding their presence in the UAE,” said Mr Baltussen, adding that his considerable international experience will help CBD capture a larger share of the cross-border flows.
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