DUBAI Dec 28 Four top managers at National Bank
of Abu Dhabi (NBAD) are leaving the bank ahead of a
merger with First Gulf Bank (FGB) to create one of the
Middle East and Africa's biggest banks, according to sources.
Abdulla Mohammed Saleh AbdulRaheem, deputy group chief
executive and Qamber al-Mulla, senior managing director and
chief executive of Gulf and international, are both departing,
the sources said.
Also leaving are Saif al-Shehhi, senior managing director
UAE government group and VVIP clients, and Abdulla Bin Khalaf
al-Otaiba, senior managing director and group head of global
retail & commercial.
NBAD was not immediately available to comment.
NBAD and FGB won shareholder approval earlier this month for
a merger to create a banking heavyweight with $175 billion in
The tie-up, expected to be completed during the first
quarter, is part of a move by Abu Dhabi to revamp its economy
after more than two years of lower oil prices weighing on state
The merger is expected to lead to some reduction in staffing
across the two banks, but it was unclear whether the departure
of the four senior management was linked to any redundancies.
The two banks said in October that they had finished picking
the senior management team to run the combined bank.
FGB board member and managing director Abdulhamid M. Saeed
had already been tapped to lead the new bank, with NBAD chief
financial officer James Burdett assuming the same role at the
The remaining appointments will be announced ahead of the
completion of the merger, a statement from FGB at the time said.
NBAD's chief executive at the time of the merger deal, Alex
Thursby, left his role in August, with Abhijit Choudhury
becoming acting chief executive.
(Editing by Louise Heavens)