Senior Bankers Depart Biggest Abu Dhabi Lender During Deals Boom - Bloomberg
The largest lender in the United Arab Emirates has lost at least eight senior bankers in recent months, despite winning mandates on several high-profile transactions across the Gulf.
First Abu Dhabi Bank PJSC, half owned by sovereign wealth fund Mubadala Investment Co. and members of the emirate’s ruling family, has in recent years built up a profitable investment banking business and amassed total assets approaching 1 trillion dirhams ($272 billion).
But the bank now faces a series of departures even as it’s increasingly involved in some of the region’s biggest initial public offerings of companies such as satellite operator Yahsat and ACWA Power in Saudi Arabia.
Andy Cairns, head of corporate finance, is set to leave the bank, while FAB Capital’s chief executive officer in Saudi Arabia, Mona Al-Tawil, is departing later this month, according to people familiar with the matter.
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