First Abu Dhabi Bank (FAB), the UAE’s top lender by assets, has started the year by making key changes to its leadership structure.

Zawya has learnt that the bank has sent out a notification to its employees stating that Sameh Al Qubaisi, Group Head of Global Markets and Suhail BinTarraf, Group Chief Operating Officer, have resigned.

Al Qubaisi led FAB’s global markets function, expanding the business regionally and internationally. He joined FAB from the Abu Dhabi Department of Economic Development, where he served as the Director General of Economic Affairs and as Executive Director-Executive Affairs Office.

The bank did not communicate the reason behind the resignation of the senior bankers. FAB, however, has seen a few high-profile resignations in the last two years.

When contacted by Zawya, a FAB spokesperson said the bank is strategically focused on maximising value for its stakeholders and will continue to invest in its talent and technology to fuel business growth.

Thomas Spitz who joined FAB as head of global markets left the lender in March 2024. Senior bankers David Trafford and Jason Keg also left the bank last year.

FAB was formed in 2017, after the merger of National Bank of Abu Dhabi and First Gulf Bank. Mubadala Investment Company and the Abu Dhabi ruling family are the largest shareholders of FAB. 

CEO Hana Al Rostamani has been steering the bank from 2021. To increase its focus on emerging markets, FAB had considered a bid for Standard Chartered, but decided not to pursue it in January last year.

(Reporting by Seban Scaria; editing by Mily Chakrabarty)

seban.scaria@lseg.com