Another Emirates NBD executive said to resign

Emirates NBD PJSC’s head of retail banking Suvo Sarkar will leave the United Arab Emirates’ biggest bank by assets at the end of May, a person familiar with the matter said. He is the second prominent departure from the bank in recent days.

Sarkar, 48, will join a leading Abu Dhabi-based bank in June, the person said, declining to be identified because the plan has not been made public. A spokesman for Dubai-based Emirates NBD said he could not immediately comment.

His decision to leave follows that of Chief Financial Officer Sanjay Uppal. Uppal will leave the bank, probably in July, and plans to move to Singapore, a person familiar with his plans said on Sunday.

Sarkar was head of retail banking at National Bank of Dubai PJSC until October 2007, when National Bank merged with Emirates Bank International to create Emirates NBD. Emirates NBD is 56 per cent owned by the Dubai government and is one of the biggest creditors of Dubai World, the holding company restructuring $24.8 billion of debt.