RBL Bank Appoints Five Non-Independent Directors To Board; Two Directors Resign
Shayne Keith Nelson, Patrick John Sullivan, Neeraj Makin, Manoj Chawla, and Marwan Mahmood Mohammad Hadi have been appointed as Non-Executive Non-Independent Directors (Additional Directors) of RBL Bank Limited, with effect from June 18, 2026, subject to approval of the shareholders.
Meanwhile, Gopal Jain and Veena Mankar have resigned as Non-Executive Non-Independent Directors of the Bank, with effect from the conclusion of this Board meeting.
The appointments and resignations are part of the board reconstitution process following Emirates NBD Bank’s USD 3 billion (around Rs 26,016 crore) investment in RBL Bank. The transaction resulted in Emirates NBD holding a 60% stake in the bank and becoming its promoter.
Shayne Keith Nelson is Group Chief Executive Officer (GCEO) of Emirates NBD and has been with the bank since 2013. During his tenure, Emirates NBD’s market capitalisation increased from AED 16 billion to about AED 187 billion, while assets grew from AED 308 billion to AED 1.2 trillion. He oversaw the acquisition of DenizBank in Türkiye and the bank’s expansion across the UAE, Egypt, India, and Saudi Arabia. Nelson serves on the boards of several Emirates NBD group entities. Before joining Emirates NBD, he was CEO of Standard Chartered Private Bank in Singapore and held other leadership roles within Standard Chartered.
Patrick Sullivan is Group Chief Financial Officer (GCFO) of Emirates NBD and has been with the bank since 2020. He has more than 30 years of experience in banking and finance across the United Kingdom, Hong Kong, China, Russia, New Zealand, and the United Arab Emirates. Before joining the bank, he held several senior finance positions at Standard Chartered, including Group Financial Controller and Chief Financial Officer for China. Earlier, he worked with PricewaterhouseCoopers in banking and capital markets roles across multiple countries. Sullivan serves on the Boards of Emirates NBD Properties LLC, Emirates NBD Global Services LLC, and DenizBank A.S.
Neeraj Makin is Group Head of Strategy, Analytics, and Venture Capital at Emirates NBD and has been with the bank since 2008. At Emirates NBD, he leads strategy, advanced analytics, and the corporate venture capital function. He previously headed the bank’s international business and played a key role in expansion initiatives, including acquisitions and business growth across multiple markets. Before joining Emirates NBD, he worked with McKinsey & Company and Ernst & Young in strategy consulting, transaction advisory, and M&A services. Makin is a member of the Group Executive Committee and serves on the Boards of Emirates NBD Egypt and Teamsec Finansal Yazılım Altyapı ve Danışmanlık A.Ş.
Manoj Chawla is Group Chief Risk Officer (GCRO) at Emirates NBD and has been with the bank since 2013. At Emirates NBD, he has been involved in developing and implementing the group-wide risk management framework and is a member of the Group Executive Committee. He also chairs the Group Risk Committee and the Model Oversight Committee. Before joining Emirates NBD, Chawla worked with organisations including Standard Chartered, Emirates Bank International, Price Waterhouse, and Ernst & Young. He is a member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India, holds an LL.B. from the University of Delhi, and is a Certified Information Systems Auditor (CISA).
Marwan Hadi is Group Head of Retail Banking & Wealth Management at Emirates NBD and has been with the bank since 2019. At Emirates NBD, he oversees the retail banking, business banking, private banking, consumer finance, asset management, and brokerage businesses across multiple markets, including the UAE, Egypt, Saudi Arabia, the UK, and Singapore. Before joining Emirates NBD, Hadi spent 15 years with HSBC, where he held senior positions including Head of Retail Banking and Wealth Management for the UAE, Managing Director (MD) of HSBC Middle East Finance Company, and Head of Business Management for Commercial Banking. He serves on the Boards of several Emirates NBD group entities and is a Member of the UAE Banking Federation Board.
