David Pace has thirty years of international experience in finance, IT and management consultancy. He began his career with Ford Motor Company in the UK. He then worked as a senior consultant in the IT management consultancy division of Jardine Matheson where he helped to develop the first reinsurance broking system in the Lloyd’s of London insurance market.He joined Midland Bank and worked as the Financial Controller for the IT division and then took up a senior management role heading the management reporting and planning function for Midland’s worldwide international operations. Mr. Pace was promoted to a head office executive management position heading the finance team supporting the Midland Bank Group CEO and Group Finance Director. He was actively involved in the acquisition of Midland Bank by HSBC and was consequently appointed to an executive management position in the newly established HSBC Holdings head office in London.
After almost 17 years in Midland Bank/HSBC, Mr. Pace moved to the Middle East as the Chief Financial Officer for Gulf Bank, playing a key role in transforming Gulf Bank into one of the most profitable banks in the Middle East. He built a high quality, commercially focused finance team, improved the effectiveness of the business planning process, developed a comprehensive and proactive investor relations programme, secured several upgrades from the international rating agencies and enabled the bank to win the Financial Times/Banker Magazine ‘Bank of the Year’ award for Kuwait. He also played the lead role in Gulf Bank’s highly successful USD200 million FRN Eurobond issue and led the implementation of the new Basel II capital adequacy framework within Gulf Bank.
Mr. Pace is a graduate with a BSc in Economics from the University of Southampton. He also has diplomas in systems analysis and computer programming.
