Abu Dhabi: Arif Shaikh is to retire as Group Chief Risk Officer (GCRO) of First Abu Dhabi Bank (FAB) later in 2020, after nearly two decades with the bank and legacy First Gulf Bank (FGB).

Mr. Shaikh joined FGB in January 2001 as the GCRO to steer and define the bank’s global risk framework, and went on to a play an integral role in the successful completion of the FAB merger and subsequent integration journey. He has been a key decision maker in the bank’s local and international expansion strategy, and an integral advisor to the board for many years.

Abdulhamid Saeed, Group Chief Executive Officer, First Abu Dhabi Bank (FAB), said: “Arif has been an exceptional member of the bank’s senior leadership team, playing a crucial role in every major FAB milestone from our successful merger and integration journeys through to our ongoing local and international expansion strategies. On behalf of everyone at FAB, I thank him for his significant contribution to the bank and wish him well for the future.”

Commenting on his upcoming retirement, Arif Shaikh said: “It has been a privilege to serve the bank for the past two decades and to be part of the senior leadership team who built one of the world’s foremost financial institutions. I am proud of our collective achievements and I wish the bank and my successor all the best for the future.”

While he is stepping back from corporate life, he will continue to reside in the UAE and apply his decades of experience to new pursuits, including a number of charitable interests in India and in an advisory capacity to the wider Group entities.

FAB’s Board of Directors and leadership thanks Mr. Shaikh for his contribution to the FAB Group and wishes him well for his upcoming retirement.

The Board is currently assessing candidates to succeed Mr. Shaikh and will make an announcement in due course.  Mr. Shaikh has assembled an exceptionally strong team who will continue to ensure a smooth transition over the coming months.


About First Abu Dhabi Bank (FAB)

FAB, the UAE’s largest bank and one of the world’s largest and safest institutions, offers an extensive range of tailor-made solutions, and products and services, to provide a customised experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.

Headquartered in Abu Dhabi in Khalifa Business Park, the bank’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad.

In line with its commitment to put customers first, to Grow Stronger, FAB continually invests in its people and technology to create the most customer-friendly banking experience, and will support the growth ambitions of its stakeholders across countries in which the bank operates.

To empower its customers and clients to Grow Stronger, FAB initiated a powerful movement, which goes beyond banking. The Grow Stronger movement represents the bank’s promise to support its stakeholders’ goals and growth ambitions, providing ideas, tools and expertise to help them become stronger, today and in the future.

With total assets of AED 822 Billion (USD 224 Billion) as of December-end 2019, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Financeâ as the safest bank in the UAE and the Middle East. The Banker Magazine, has named FAB as the second largest bank in the Middle East by Tier 1 Capital in its Top 1000 World Banks 2019 ranking. FAB is well positioned to unlock the full potential of a unified bank with a strong focus on customer experience, digitisation and continued growth, as we enter the next phase of our journey to grow stronger.

For further information, visit: www.bankfab.com 

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Mira Assaf
Weber Shandwick MENA
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Email:  Massaf@webershandwick.com

Talal Natafji
Weber Shandwick MENA
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Email:  Tnatafji@webershandwick.com

© Press Release 2020

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