m_london

Hi

I work in an investment bank in London , I am interested into a move to UAE ( Abu Dhabi ).
I would like to know what is the culture in NBAD ?
I could not find any information about this bank ( only stuff on their web site ).
does nay one know any thing about them ?
can you please contact me by Email if you work /worked / know a friend who works for them?
thank you for your help

Blue Cat

I am no expert, but I would say that all employees in the banks are locals, I haven't seen a Eurpean expat in a bank.

Meow

There are European employees, but generally in higher level posts. Most have a few European or American experts running departments.

Blue Cat

I had my local bank head on then, just remembered I have a friend at HSBC but he is in Marketing.

Meow

There are Westerners at local banks too

The Dean

There are quite a few, as Meow says.......... ahem.... ahem.......

One prominent (former) contributor to The Bored has some sort of NBAD connection, but I've no idea if the OP will be seen by that person.........

Millhouse

Agreed. I know the head of Project Finance at NBAD - a brit.

Millhouse

so, now that we have established that expats do work there, to answer your questions (from what I know from having dealt with them):

1) Culture

Just like any other middle eastern bank - different - decision making only done at the very top, decisions change like the wind - people don't listen to what you are trying to tell them. Anything goes wrong - you will probably be to blame.

I have tried (and failed) to raise money off them, however, did use them for bid bonds etc as they were our (painful) relationship bank. You see their name on various real estate and infrastructure projects. They also have a sizeable asset management business.

They have expanded into areas which they do not fully understand. That means they may retract from them.

2) Does nay one know anything about them?

I don't know nay one - I will ask the girls in the Ally Pally if they have seen her.

3) Information on them

Information is always hard and I'm sure those on the inside don't know the full story either. What are you trying to find out? credentials, deals etc? Take a look at Zawaya to see what they have been up to - or maybe MEED.

They are 100% (I think) owned by Abu Dhabi Investment Council, which is the onshore sister to ADIA.

You have to ask yourself what you are doing there - if you are in advisory then think how easy it will be to get mandates... if you were looking to do a deal in the region would you chose NBAD or HSBC as your advisor?

The Dean

Slightly, though not completely, harsh.

Management is good at the highest level - I can recommend the CEO personally, if you follow me.

They also, several years ago, asked themselves a fundamental question - 'just because they are bigger than us, why should HSBC, Stan Chart, etc, be better than us in our own back yard?'. 'No reason at all' was their conclusion, quite rightly, as the bigger banks simply have a higher number of employees who are basically dross. Many of the better employees were poached by.... er.... NBAD.

They are very good on the markets side, and quite innovative in product development, etc, with a seemingly good awareness that a product should actually do something for the customer, not just swell the bank's coffers.

Meow

I am currently consulting on a project for a local bank. Useless and ill-informed are words that spring to mind.

Hope that helps

Millhouse

Ok, maybe I was a little harsh but...

I do recall seeing a league table of all locally managed funds and NBAD did take 3 of the bottom 5 performing funds - even their fixed income fund actually lost money!

I'm in Project Finance and it is rare to find a local bank who fully understands it and NBAD is no exception to that rule.

busybee2

no i know of one

m_london

Thank you all for reply, I guess I need to be more specific .

I had an 2 interviews with them, from what i gathered they are very keen.
we did not talk about package yet (we will do probably this week , when every comes back from holiday).
on the interview we covered interest rate derivatives some risk metrics etc..
But I could not find any thing about NBAD (from investment banking perspective, or Fixed income ) and what puzzle me more is that the job Desc was about retail banking and the interview was about Investment baking ( Fixed Income Term structure . etc .. )
I would like to know what they average package ?
how secure is it to work for them ?

NB : I have an offer from Commerzbank in London, I am quite tempted to
move to Abu Dhabi but I am completely on the Dark

Millhouse

the fact that the job description was retail banking but the job is investment banking sums it up for me... either someone couldn't be arsed to update it, or they didn't know themselves. Not that is a problem - just the way life is here.

As for job security it is hard to know - NBAD are not without their problems but market driven work is probably safer as it's short term and small tickets and they are quite good at it (unlike what I do - large ticket, infrequent and illiquid) - the issue in the UAE is that when you lose your job you lose your visa and all that hangs off it.

I'm not going to say take the Commerzbank role as it will be more secure though - I was in a similar position and I don't regret the decision I made.

Squirty Cream

Hello, we haven't met, but I work in the HR department, how can I help you with your queries??