Emirates NBD launches strategic initiative to empower next generation of Private Banking clientele

2 Min | 13 November 2024

Exclusive ‘Next Generation programme’ crafted with INSEAD Business School to equip future leaders and heirs with essential leadership skills and knowledge for tomorrow
Strategic initiative reaffirms Emirates NBD’s position as a trusted partner to clients for the years to come

Dubai, UAE, 13 November 2024: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has launched its bespoke Next Generation programme, an exclusive initiative conceptualised and designed to cater to the needs of the next generation of elite and affluent clientele. The first-of-its-kind strategic initiative by Emirates NBD Private Banking bridges the gap between legacy and leadership, ensuring a seamless transition for future leaders.

As intergenerational wealth transfer becomes increasingly pivotal in today's wealth management landscape, it indicates a significant shift in generational wealth and assets that impacts families and businesses, while also shaping global economies. It is estimated that approximately USD 68 trillion will be transferred from baby boomers to their heirs over the next two decades in the United States alone, representing one of the largest wealth transfers in history. Similar trends are occurring globally, and it is expected that by 2028, an estimated AED 3.6 trillion is projected to transition between generations in the Middle East alone, underscoring the critical need for strategic planning and leadership development in the region.

This unprecedented movement of wealth emphasises the pressing need for initiatives such as the Next Generation programme, which are designed to ensure clients are well-prepared to continue their family's legacy with confidence. Further, the programme is also in line with the UAE Government’s strategy to empower future business leaders in the region.

Emirates NBD Private Banking hosted the inaugural Next Generation programme titled "From Legacy to Leadership", in London for some of the bank's most prestigious clients. In collaboration with esteemed experts from INSEAD Business School, this bespoke programme empowers the heirs and future leaders of the bank’s distinguished Private Banking clients.

Over an intensive three-day experience, participants engaged in transformative sessions focused on self-leadership, family dynamics and governance, and strategic decision-making. This programme not only imparted invaluable insights but also reinforced the bank’s commitment to nurturing enduring relationships with its next generation clientele, solidifying the Emirates NBD Private Banking's position as their trusted partner for the future.

Shayne Nelson, Group CEO at Emirates NBD, commented: "This dynamic programme is pivotal for us, as it empowers the youth of our merchant families and transforms them into future leaders of their companies. It also provides them with invaluable insights into wealth management and strategy, but most importantly, it helps cultivate essential leadership skills."

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, commented: “Many high-net-worth families in the country are facing their first intergenerational wealth transfer, poised to reshape the economic and social landscape. As integral members of the UAE ecosystem where family businesses play a vital role in driving GDP, we at Emirates NBD, recognise our Next Generation programme as a pivotal initiative. It seamlessly aligns with our Private Banking strategy, dedicated to safeguarding and enhancing wealth for our esteemed clients and their enterprises."

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