Abu Dhabi Bank’s first corporate finance chief to leave the source

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By Saeed Azhar

DUBA, September 7 (Reuters)Abu Dhabi’s leading bank FAB.AD Corporate finance director Andy Cairns is leaving the UAE’s largest lender, a source familiar with the matter said.

Cairns, senior managing director of FAB, had been with the group for eight years.

It was not immediately clear why he was leaving the bank.

The bank did not immediately respond to a request for comment from Reuters.

The FAB underwent a change of leadership earlier this year when Hana al-Rostamani became the bank’s first female chief executive, replacing retired bank veteran Andre Sayegh.

It has established itself as a major player in the loan and bond market in the Middle East and North Africa (MENA) and has been involved in important regional transactions.

FAB is ranked as the top year-on-year loan bookrunner in the MENA region and is also eighth in the regional debt capital market ranking, according to data from Refinitiv.

The bank was among the lenders in the $ 10.5 billion loan deal to finance the sale of oil pipelines by Saudi Aramco to a consortium led by Washington DC-based energy infrastructure investor EIG.

FAB is also one of the banks advising Abu Dhabi National Oil Co (ADNOC) for the quotation of its drilling activity.

Cairns has also worked in the past with Bank of America Merrill Lynch and HSBC, as shown in his Linkedin profile.

(Reporting by Saeed Azhar; Editing by Emelia Sithole-Matarise)

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