Mashreq names former KPMG partner Norman Tambach as CFO

05 September 2023 2 min. read

The UAE’s oldest bank, Mashreq, has appointed former KPMG partner Norman Tambach as its new chief financial officer.

A Dutch national, Norman Tambach brings over 30 years of experience to the Dubai-headquartered bank, where he will oversee the bank’s AED 3.7 billion revenue base and lead the finance function.

Mashreq provides corporate and retail banking services to clients in the UAE, Bahrain, Qatar, Kuwait, Egypt, and India, and has foreign exchange businesses in among others Bangladesh, Pakistan, and Nepal. The bank (founded in 1967) also has branches in the financial capitals of New York, London, and Hong Kong.

Mashreq names former KPMG partner Norman Tambach as CFO

“It is with great pleasure that we welcome Norman to the Mashreq family. His extensive experience as a financial leader across multiple markets demonstrates a broad and deep knowledge of international challenges, opportunities, and the nature of a rapidly evolving financial landscape. His leadership will provide Mashreq with a clear direction in achieving its objectives of sustainable growth and fiscal stability,” said Ahmed Abdelaal, CEO of Mashreq.

Tambach started his career in 1991 at Big Four firm KPMG, where he spent over 20 years, mostly in the Netherlands, but also partly in Belgium and Ukraine. The KPMG partner then moved to ING, where he held roles as group controller and board member at ING in Germany. In 2019, Tambach was appointed as CFO of ING’s German business.

During his career, Tambach gained extensive experience in domains including strategic financial engineering, mergers & acquisitions, financial operations, regulatory governance, risk management, capital management, corporate tax planning, data analytics, and digital transformation.

“I am excited to join Mashreq during such an exciting moment in its trajectory as a digital challenger bank with a fast-growing international presence. During a period of significant global geopolitical and economic uncertainty, I look forward to helping the bank navigate challenges, exploit emerging opportunities, and maximize its innate strengths as a leading player in the digital economy,” said Tambach on his move.