05 April 2011
Abu Dhabi Commercial Bank announces the appointment of Lord Davies of Abersoch as adviser to its Board of Directors
Abu Dhabi, 5 April 2011: Abu Dhabi Commercial Bank PJSC (ADCB) announces that it has appointed Lord Davies of Abersoch as adviser to its Board of Directors.
Mervyn Davies, Baron Davies of Abersoch, is Vice Chairman of Corsair Capital, one of the longest-standing private equity firms focused exclusively on investing in the global financial services industry. He is a former banker and was a UK Government minister until May 2010. Lord Davies was Chairman of Standard Chartered PLC between November 2006 and January 2009 when he was appointed as Minister in the UK Government by Prime Minister Gordon Brown. Lord Davies has more than 25 years’ experience in the banking and financial services’ sector and is regarded as one of the finest banking experts of his generation.
As a member of the UK Government, Lord Davies acted as Minister of State for Trade Promotion and Investment. Lord Davies is currently a Non-Executive Chairman of PineBridge Investments, an asset management company owned by Richard Li’s Pacific Century Group.
Lord Davies was previously Chairman of Nordic Windpower and has held non-executive directorships with Breakingviews Limited, Tottenham Hotspur Football Club and Trinity Limited and UK India Business Council. Until 2008, Lord Davies was also a director of Tesco plc. He also holds various other appointments public appointments, including a Governorship of the London School of Economics, and has received multiple national honours in the UK.
As adviser to the Board of ADCB, Lord Davies will attend Board meetings and advise on all aspects of the Bank’s business including strategy.
Eissa Al Suwaidi, Chairman of the Board, said; “The Board is delighted to announce the appointment of and partnership with, Lord Davies. We are confident that Lord Davies’ expertise and experience will add significant value to the Bank.”
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