The appointment signals ABN AMRO’s intention to embark on an aggressive course to increase its market share and visibility in the UAE’s capital, as well as in the region.
Mr. Malak started his banking career in 1998 after receiving an MBA from Connecticut, USA. He was later recruited by ABN AMRO to become an assistant vice president on the Global Trade and Advisory Team for the ME, Africa, and CIS regions.
In this advisory role, his particular focus was on increasing trade finance business for the Abu Dhabi market. Attributable to his experience, insight, and focus on banking in the UAE’s capital, it was only natural that Mr. Malak was appointed to head the Abu Dhabi branch in May 2004.
Commenting on the immediate priorities he sees for ABN AMRO and of the main growth areas in the UAE banking sector, Mr. Hisham Malak said, “ABN AMRO is already a respected international bank with corporate banking facilities and services. On this side, we are looking to make ourselves more visible and expand into the Public Sector. We are confident that with our existing abilities and quality services as an international bank, we are best placed to look at the opportunities presented by certain privatization projects that are coming up.”
He added, “We are however, embarking on an aggressive push into retail banking. As the population of the Emirates and the region continues to grow, the focus needs to be on the consumer banking market, and it is essential that the consumer realizes the quality products and services offered to them by ABN AMRO.”
In spite of stiff competition in the UAE banking market, Mr. Malak is confident that ABN AMRO has the products to clearly distinguish itself from the rest.
“If we look at consumer banking, ABN AMRO clearly demonstrates its dedication to quality customer service by offering unique or non-standard consumer products. For example, our ‘Van Gogh Preferred Banking’ addresses the needs of the high net individual whose requirements relate to international as well as regional expertise.
“Essentially, it provides a first-class service that includes a dedicated relationship manager to look after the account. We also have Islamic fund investment products, and at the beginning of the year we offered the limited time offer of Investment Guru product – a product based on the investment strategies of the top money managers of our time and aims to maximize financial returns for investment customers.”
Tuesday, June 15- 2004 @ 14:45 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.