Manama, Bahrain: Arab Banking Corporation ("ABC") is pleased to announce changes to the top management team at its key European subsidiary, ABC International Bank plc ("ABCIB") London.
With effect from 4th January 2012, with the announced retirement of Mr. Nofal Barbar, Mr. William (Bill) Playle was appointed as Chief Executive Officer of ABC International Bank. Bill has worked at ABCIB since May 2002 and was formerly Deputy CEO of the bank, having previously served also as the bank's Head of Risk Management. Prior to joining ABC, Bill held senior positions in business, risk and general management functions, primarily within the Barclays Group.
On the same date, Mr. Paul Jennings and Mr. Alexander Ashton were appointed joint Deputy Chief Executive Officers of ABCIB. Alexander has been the General Manager of the bank's Paris branch since joining ABCIB in 2003 and was in senior management roles, both overseas and in UK, in Lloyds Banking Group before joining the bank. The European branch General Managers will report to Alexander, as well as many of the support functions including Finance, Compliance, Legal and Operations. Alexander will also act as the CEO as and when required due to any absence of the CEO.
Mr. Paul Jennings is currently, and will remain, the Head of Global Trade Finance for ABC Group in addition to his new duties as Deputy CEO of ABCIB. Since joining ABCIB in 1999, Paul has successfully transformed the Trade Finance business enabling ABC Group to be recognised as a ‘market leader’ in this field. Before joining ABCIB, Paul enjoyed a successful track record in senior business roles with a number of financial institutions. As joint Deputy CEO, Paul's responsibilities now extend to all of ABCIB's business lines, adding Project & Structured Finance and Islamic Banking to Trade Finance.
Chairman of ABCIB, Mr. Hassan Juma, commented:
"ABCIB will continue to play a critical role in ABC Group's development, and it is a very positive sign that we have been able to fill these important posts internally. Bill possesses tremendous knowledge of our products, clients, people, the European market and of ABC itself. Combined with Paul and Alexander, I am very confident that we have excellent management in place to lead ABCIB through what I am sure will be a challenging market place."
New CEO of ABCIB, Mr. Bill Playle said:
"I am delighted to take over leadership of ABCIB at this important stage in the bank's development. The new management team is very strong and has complementary skills that will ensure continued success for the bank. I am looking forward to working with ABC Group senior management and ABCIB Board to develop the business model of the European unit further."