28 February 2011
ADCB appoints Jerry Möllenkramer as Group Chief Operating Officer
- ADCB creates new Group COO role to support the Bank’s growth and future development
Abu Dhabi, 28 February 2011: Abu Dhabi Commercial Bank (“ADCB”) has announced the appointment of Jerry Möllenkramer to the newly created position of Group Chief Operating Officer for ADCB. The position has been created following the successful acquisition of the Royal Bank of Scotland’s (“RBS”) retail banking business in the UAE in Oct 2010, to drive the future operational growth of the Bank.
Mr Möllenkramer will be responsible for facilitating a shift within ADCB, from providing vertically focused functions such as IT and operations, to a model that delivers ‘services and solutions’ to internal partners and customers. By adopting this new model, the Bank will be able to deliver cost efficiencies and an improved customer experience. Mr. Möllenkramer will also drive a shared agenda of optimised operational management approaches across the firm.
Ala’a Eraiqat, Chief Executive Officer and a member of the Board of ADCB, commented on the appointment: “We are extremely pleased to welcome Jerry to ADCB as Group Chief Operating Officer. He brings a wealth of experience from both the banking industry and the Middle East region, and I am confident in the expertise he has to offer ADCB at an exciting time for the organisation.
“The Bank has experienced substantial growth in recent years, especially following the acquisition of the RBS retail bank in the UAE. Our ambition, and that of our stakeholders, remains a core focus, and I look forward to the improvement in our services, risk management and operational infrastructure that this new position will facilitate.”
Jerry Möllenkramer, Group Chief Operating Officer at ADCB, said: “I am very pleased to accept the role of Group Chief Operating Officer for ADCB at such an exciting period in the company’s growth. The creation of this position is a real testament to the development of ADCB, its ambition and the commitment it has to its stakeholders.
“ADCB has been through a period of substantial growth in the last two years, and its current size and operating platforms mean that there is an exciting opportunity to move to a model focused on providing valued service propositions. As the Bank grows, so too will its services and the value it adds to its staff, customers and shareholders.”
Prior to joining ADCB, Mr Möllenkramer was the Chief Operating Officer for Royal Bank of Scotland’s MEA franchise, a position he held from 2008. He also served as an Executive Director for ABN Amro’s Group Services Division, and prior to that he fulfilled various Director roles within ABN’s Wholesale Division.
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