FAB Faces Leadership Flux Amid Strategic Overhaul

First Abu Dhabi Bank PJSC , the largest lender in the United Arab Emirates by assets, is undergoing another wave of executive departures as it implements a significant internal restructuring aimed at reinforcing its regional dominance and enhancing shareholder value.

Chief Credit Officer Neil Barrable is stepping down less than a year after his appointment, citing personal reasons. Barrable joined FAB in June 2024 from HSBC Holdings Plc and previously held positions at JPMorgan Chase & Co., Barclays Capital Inc., and Deutsche Bank AG. His departure adds to a growing list of senior executives exiting the bank during a period of substantial organizational change.

Chavan Bhogaita, Managing Director and Global Head of Market Insights and Strategy, is leaving after nearly 16 years with the institution. Bhogaita, who previously led credit research at HSBC Middle East, was a prominent figure at FAB, notably moderating the bank's Global Financial Markets Forum.

These exits follow the January departures of Sameh Al Qubaisi, Head of Global Markets, and Suhail Bin Tarraf, Chief Operating Officer. Both had been instrumental in FAB's expansion initiatives, including considerations for international acquisitions. The bank has not publicly commented on the reasons behind these leadership changes.

Under the leadership of CEO Hana Al Rostamani since 2021, FAB is executing a comprehensive reorganization strategy. The bank is consolidating its operations from five divisions into four: Investment Banking and Markets; Wholesale Banking; International Banking; and Personal, Wealth, and Business Banking. This restructuring aims to streamline operations and better position the bank for growth in the Gulf region.

As part of this overhaul, FAB has appointed Linos Lekkas, a seasoned executive from Citigroup, to lead its Investment Banking division. Martin Tricaud, the former head of Investment Banking, is transitioning to oversee Wholesale Banking. These leadership changes are intended to align with FAB's strategic objectives and bolster its competitive edge in the region.

Despite these internal shifts, FAB remains committed to its growth trajectory. The bank has been exploring opportunities for expansion beyond the Gulf, including a previously considered bid for London-listed Standard Chartered. While that particular acquisition did not materialize, it underscores FAB's ambition to extend its international footprint.

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