* Alex Thursby to begin CEO role at NBAD in July
* Thursby replaces Michael Tomalin
* Abu Dhabi lender seeking to boost int'l revenues
* Thursby spearheaded ANZ's expansion drive
By Stanley Carvalho
ABU DHABI, April 3 (Reuters) - National Bank of Abu Dhabi named the banker who led Australia and New ZealandBanking Group's push into Asia as its chief executive onWednesday, as it expands abroad from its saturated local market.
Alex Thursby, currently ANZ's chief executive forinternational and institutional banking, will take over on July1 at NBAD, where he will also face the challenge of fighting offpretenders to the bank's number one domestic position.
NBAD, almost 70-percent owned by Abu Dhabi's government, hasthe largest market capitalisation and profitability of the 50local and international banks in the United Arab Emirates.
Like other UAE banks such as Emirates NBD, FirstGulf Bank and Union National Bank, it is keento expand overseas due to stiff competition in the local market.
"It is not going to be easy competing with some peer banksthat have adopted an aggressive approach to win business locallyas well as abroad, particularly in Asia and the Middle East,"said a senior Abu Dhabi banker, who did not want to be named.
In his new role, Thursby succeeds Michael Tomalin whoseretirement after 14 years at the helm was announced a year ago.Tomalin will remain in a non-executive director's position.
British-born Thursby was put in charge of ANZ CEO MikeSmith's push for the Australian lender to become a superregional bank in Asia six years ago. ANZ aims to double earningsin Asia to up to 30 percent of its total inside five years.
Thursby was touted as a potential CEO at ANZ last year whenSmith was approached by Barclays Plc.
Thursby will face a similar challenge at NBAD, which hasturned its focus outward, particularly towards Asia, and wantsits international division to contribute 25 percent of operatingprofit in five years and 40 percent by 2021.
NBAD is already the most international of UAE banks, withoperations in 14 nations on four continents. It targets presencein 41 by 2021, mostly in Asia, Africa and the Middle East.
Thursby also has a reputation for conservative riskmanagement, an approach which should fit well at NBAD.
"Its strong board with a conservative approach and lowappetite for risk has kept the bank in good hands and I don'tsee lots of challenges for Thursby apart from just implementingthe international expansion," said Tariq Qaqish, head of assetmanagement at Al Mal Capital.
From January 1999 to March 2001, Thursby was chief executiveofficer, UAE and regional head of corporate banking, Middle Eastand South Asia at Standard Chartered Plc.
ANZ shares closed down 1.9 percent in Sydney, while NBADshares were flat on the Abu Dhabi bourse Wednesday.
Barclays (BARC)
