April 3, 2013 / 2:26 AM / 6 years ago

ANZ's Thursby to head National Bank of Abu Dhabi

ABU DHABI/SYDNEY, April 3 (Reuters) - National Bank of Abu Dhabi, the largest bank by market value in the UAE, appointed former Australia and New Zealand Banking Group executive Alex Thursby as its new chief executive on Wednesday.

ANZ earlier on Wednesday announced that Thursby, the chief executive of ANZ’s international and institutional bank, was leaving to run a bank in the Middle East at the end of the month, without naming the bank.

NBAD is planning to expand its operations outside its traditional Middle Eastern base, targeting Asia and other developing markets.

British-born Thursby was one of the main executives behind CEO Mike Smith’s push for ANZ to become a super regional bank. ANZ is expanding aggressively in Asia, where it now aims to double its earnings to up to 30 percent of its total inside the next five years. (Reporting by Stanley Carvalho in Abu Dhabi and Lincoln Feast in Sydney; Editing by Chris Gallagher)

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