Dubai's Biggest Bank Hires StanChart's Patrick Sullivan as CFO

(Bloomberg) -- Dubai’s biggest bank hired Patrick Sullivan from Standard Chartered Plc as its group chief financial officer.

Sullivan will assume the role from January 1, replacing Surya Subramanian who will leave Emirates NBD PJSC after 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.

Read more: Emirates NBD CFO to Leave After Weathering Dubai’s Toughest Time

Emirates NBD on Monday reported 63% jump in nine-month net profit to 12.5 billion dirhams ($3.4 billion), helped by a one-time gain from a stake sale in its card payments processing unit. The bank is seeking to raise 6.45 billion dirhams from a rights share offering as it expands abroad and courts more foreign ownership for its stock.

©2019 Bloomberg L.P.