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IFS School of Finance, the leading provider of professional banking and financial qualifications, has awarded Michael H. Tomalin, the Group Chief Executive of the National Bank of Abu Dhabi (NBAD), an Honorary Doctorate of Science in Banking and Finance in recognition of his outstanding contribution to the financial services industry.
The Degree - Hon DSc (Banking and Finance) – was conferred on Mr. Tomalin at the IFS graduation and awards ceremony held recently in London.
Mr. Tomalin, NBAD’s Group Chief Executive since 1999, has led the Bank to remarkable growth; advancing it from the fourth most profitable bank in the United Arab Emirates to first; expanding into new markets including asset management, private and investment banking and brokerage, as well as launching operations in new countries in the Middle East and Asia.
NBAD, ranked since 2009 among the World’s 50 Safest Banks, now holds the enviable title of the Safest Bank in the Middle East and is highly regarded as one of the most professionally managed banks in the region. Under Mr. Tomalin’s leadership NBAD has been named the Best Bank in the UAE by Euromoney five times in the last 10 years.
The IFS School of Finance is one of the world’s leading providers of professional banking and financial qualifications. It was founded in 1879 as the Institute of Bankers and has remained at the forefront of professional education in financial services in the UK ever since. In 2010, it became the first and only educational body with a specific focus on finance to be granted Taught Degree-Awarding Powers.
In addition to his accomplishment to the growth of NBAD and the banking sector in the UAE, Mr. Tomalin, has demonstrated a firm commitment to education. Mr. Tomalin believes that banks should be learning organisations. Under his leadership, NBAD established the NBAD Academy, which effectively serves as a graduate school in banking. NBAD Academy enables UAE nationals of the Bank to pursue a Master’s degree.
The NBAD Academy is a strategic pillar of NBAD’s ‘Emiratisation,’ by attracting and advancing the skills of young UAE nationals into top management position. NBAD’s Watani programme, designed to introduce UAE nationals to banking, has been a particular success in increasing UAE nationals employed by the Bank to 40% from 17%. As a result, Mr. Tomalin has won the Best Emiratisation CEO Award in Banking Sector from Emirates Institute for Banking and Financial Studies (EIBFS) in 2010 and 2012.
In addition, he was awarded the Life Time Achievement Award from Banker Middle East in 2010, and won the CEO of the Year Award from Global Investor in 2011.
In 1991, Mr. Tomalin was awarded the honour of the Officer of the Order of the British Empire (O.B.E.) in recognition of his services to the British Community in Japan. Mr. Tomalin helped launch the first British School in Tokyo, and served as the Chairman of its Board of Governors.
“I am thankful to IFS School of Finance for awarding me an honorary doctorate degree,” said Mr. Tomalin. “Education provides the formula to succeed not only for individuals but also for corporations, communities, and nations. This is why I have always been committed to increasing access to education and training for my staff and my communities and it’s been my aim to foster a good relationship with institutions of education.”
Mr. Tomalin added: “NBAD has been, and will remain, a learning organisation committed to the development of the banking sector in the UAE”. Mr. Tomalin went on to say “the group will continue to expand access to learning opportunities for all its employees particularly UAE nationals”.
Ehab Anis Hassan, the Group Chief Human Resources Officer of NBAD and Farid Barakat, NBAD Regional Manager in Europe, attended the event.
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