DUBAI, Sept 6 The chief banking officer of Bank
ABC, Ray Ferguson, will step down from his position at
the Bahraini lender in early 2017, according to an internal memo
seen by Reuters on Tuesday.
Ferguson, hired from Standard Chartered in 2014, had been
tasked with helping to formulate and implement a refreshed
strategy at the bank which included expanding abroad and in
wholesale banking, hiring new senior talent and optimising its
capital base, the memo said.
Bank ABC has undergone a number of changes during Ferguson's
time, including a rebranding from Arab Banking Corporation last
year as well as establishing a capital markets team.
Among the people hired in the last three years include a new
chief financial officer, and heads of compliance and treasury.
In late 2015, Ray expressed "his wish to step down from his
role with Bank ABC to return to Asia to pursue several
interesting and exciting career opportunities, and to spend more
time closer to his family," the memo said.
"After discussions, Ray agreed to delay his plans and remain
in his role for a further year" to help implement several
strategic priorities and key executive hires, the memo
continued, adding he would now leave early next year.
Any changes to the bank's management structure as a
consequence of Ferguson's departure would be decided upon and
announced in due course.
A spokesman for the bank confirmed the news when contacted
(Reporting by David French; Editing by Mark Potter)