DUBAI, April 12 First Abu Dhabi Bank
has made up to 20 job cuts in its global markets division
following the merger of National Bank of Abu Dhabi and First
Gulf Bank, sources told Reuters on Wednesday.
The merger, which was completed April 1 and created an
lender with assets of more than 670 billion dirhams ($182.4
billion), was expected to produce cost savings of 500 million
The bank is interviewing people for various roles since
there is duplication, according to one of the sources familiar
with the matter.
Those who do not qualify are asked to apply for junior roles
and are asked to leave if they do not make the cut, the source
First National Bank of Abu Dhabi declined to comment when
contacted by Reuters.
The sources declined to be identified because the
information is not public.
($1 = 3.6730 UAE dirham)
(Reporting by Hadeel Al Sayegh, Saeed Azhar and Tom Arnold;
editing by Jason Neely)