First Abu Dhabi Bank (FAB), the UAE’s largest bank by assets, is undergoing a major restructuring to enhance its operations and boost shareholder value. According to sources familiar with the matter, the bank plans to reorganize its structure into four new divisions while hiring Citi veteran Linos Lekkas as its new head of investment banking.
This move marks the latest effort by CEO Hana Al Rostamani to accelerate the bank’s growth. Over recent years, FAB has experienced several senior management departures, prompting the need for strategic changes.
First Abu Dhabi Bank: Key Changes in FAB’s Structure
As part of the reorganization, the bank will consolidate its existing five divisions into four:
- Investment Banking and Markets
- Wholesale Banking
- International Banking
- Personal Wealth and Business Banking
With these changes, Martin Tricaud, the current head of investment banking, will transition to lead the wholesale banking division. While FAB has not officially commented on the restructuring, Bloomberg first reported the details, citing an internal memo.
Management Shifts and Expansion Plans
Under Al Rostamani’s leadership since 2021, FAB has seen significant leadership changes. Earlier this year, reports surfaced that its head of global markets, Sameh Al Qubaisi, and chief operating officer, Suhail Bin Tarraf, were preparing to leave. Additionally, Eric Shehadeh, who was appointed in mid-2023 as the head of mergers and acquisitions, exited the bank after less than a year.
Beyond internal restructuring, First Abu Dhabi Bank has also been exploring expansion opportunities. Two years ago, the bank considered a bid for London-listed Standard Chartered, highlighting its ambitions to grow beyond the Gulf region.
With this latest restructuring, FAB aims to streamline operations and position itself for stronger regional and international growth.
