Two senior executives at First Abu Dhabi Bank (FAB), the UAE’s largest lender by assets, have resigned, Bloomberg reported, citing people familiar with the matter. According to an internal notification to employees, Group Head of Global Markets, Sameh Al Qubaisi, and Group Chief Operating Officer, Suhail BinTarraf, have stepped down from their positions.
Al Qubaisi, who led FAB’s global markets function, was instrumental in expanding the bank’s business both regionally and internationally. He joined FAB from the Abu Dhabi Department of Economic Development, where he served as Director General of Economic Affairs and Executive Director of the Executive Affairs Office.
BinTarraf’s tenure as Group Chief Operating Officer was marked by significant operational developments within the bank. Prior to joining FAB, he held the position of Group COO at Emirates Islamic Bank.
These departures are part of a broader trend of executive changes within FAB. In June 2024, the bank appointed Simon Thorn as Group Chief Compliance Officer and Neil Barrable as Group Chief Credit Officer to strengthen its leadership team.
As of now, FAB has not publicly announced successors for Al Qubaisi and BinTarraf. The bank continues to be a significant player in the UAE’s banking sector, with total assets exceeding Dh1.2 trillion ($336 billion) as of March 2024.
