Edward Bell

Acting Group Head of Research and Chief Economist

Edward Bell is Acting Group Head of Research and Chief Economist for Emirates NBD. He leads a team of economists and analysts providing our clients with leading macroeconomic and market views covering the MENAT region. Edward previously served as Head of Market Economics for the bank, covering commodities, currencies and rates. He has a background as a commodities analyst and a Middle East-focused economist with experience working across Hong Kong and the UK. He is a regular speaker at industry events in the region and frequently sought out for commentary on market developments. Edward holds a Master's Degree from the School of Oriental and African Studies in London, a Bachelor's Degree from the University of Toronto and the IMC awarded by the CFA Society of the UK.

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Daniel Richards

Senior Economist

Daniel Richards is Emirates NBD's MENA economist, covering markets in North Africa and the Levant. Prior to joining Emirates NBD, Daniel served as Head of MENA Country Risk and as a senior Sub-Saharan Africa analyst for BMI Research, in London. He holds an MA in International Relations of the Middle East and a BA in Arabic, both from the University of Exeter

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Jeanne Walters

Senior Economist

Jeanne Walters joined Emirates NBD in 2022 as a senior economist, and works on the bank’s global macroeconomic coverage. Jeanne started her career at the South African Reserve Bank, before moving to the UK where she worked as an economist at the Bank of England for several years. Jeanne also has experience in consultancy both in South Africa and the Middle East. She holds an MSc in Economic Policy from University College London and an MCom in Econometrics from the University of Pretoria.

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Aditya Pugalia

Senior Director – Equity Research

Aditya leads the Equity Research team at Emirates NBD, bringing over 18 years of extensive multi-sector experience in MENA equities. He has a deep understanding of market trends, financial modeling, and investment strategies. Aditya has played a pivotal role in leading the coverage of recent UAE IPOs, including the development of pre-IPO reports and conducting pre-deal investor education roadshows. He regularly engages with the bank's institutional investors, providing them with insightful on ground market intelligence and actionable ideas. Aditya holds an MBA in Finance from SP Jain.

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Mayed Alrashdi

Research Analyst

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Swapnil Rajasekharan Pillai

Director, Real Estate Research

Swapnil Pillai is Director of Real Estate Research and Analytics at Emirates NBD and joined the bank in 2024. In his previous role, Swapnil was the head of GCC research for Savills, based out of their Dubai office. He has research and consulting experience across the GCC and Southeast Asian markets and has worked on projects for sovereign wealth funds, private equity and other investors, developers, government agencies and banks. Swapnil holds an MSc in Real Estate Investments from Heriot Watt University and a Bachelors in Finance from Mumbai University.

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