Emirates NBD sets up back-office subsidiary

Emirates NBD announced yesterday that it has established a new subsidiary that aims at consolidating the group's various back-office and operational teams under one management. The new subsidiary is named "Tanfeeth", an Arabic word that means "getting the job done". Tanfeeth will operate as a fully owned subsidiary of the bank. The bank appointed Suhail Bin Tarraf as CEO of Tanfeeth. The bank also announced that Hussam Al Syed will be rejoining Emirates NBD as the Group General Manager of Human Resources. "In May of this year, Emirates NBD launched the Centre of Operational Excellence [COE], a new transformation initiative within the broup aimed at taking our service delivery capabilities to the standards of international best practice," said Rick Pudner, Group CEO Emirates NBD. Tanfeeth symbolises the primary objective of the new company to deliver high quality services that exceed customers' expectations, a bank statement said.