DUBAI, Oct 26 (Reuters) – First Abu Dhabi Financial institution (FAB) (FAB.AD), the United Arab Emirates’ largest lender, on Wednesday introduced the retirement of Chief Monetary Officer James Burdett, who will stay on the financial institution till a successor is appointed.
He determined to retire “to return house to his household in New Zealand”, the financial institution mentioned in a press release.
Group CEO Hana al-Rostamani mentioned within the assertion that Burdett performed a “very important position” in integrating legacy banks, “driving excellent outcomes and shaping our strategic imaginative and prescient because the UAE’s main financial institution”.
“We thank him for his dedication by the years and want him all the most effective for the long run.”
Burdett, in the identical assertion, mentioned it had been a “privilege to serve FAB” and “construct a stable monetary basis that’s match for our future progress aspirations”.
FAB additionally reported third-quarter web revenue down 24% from a 12 months earlier and flagged warning in opposition to an “more and more difficult international backdrop”.
Reporting by Yousef Saba
Modifying by Jason Neely and David Goodman
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