First Abu Dhabi Bank's corporate finance head to leave-source (updated)

Gulf Island Fabrication

07/09/2021 16:09

(Adds FAB's rank on league table, background on changes)
    By Saeed Azhar
    DUBAI, Sept 7 (Reuters) - First Abu Dhabi Bank's  FAB.AD 
head of corporate finance, Andy Cairns, is leaving United Arab
Emirates' biggest lender, a source close to the matter said.
    Cairns, a senior managing director at FAB, had been with the
group for eight years.
    It was not immediately clear why he is leaving the bank.
    The bank did not immediately respond to a Reuters request
for comment.
    FAB saw a leadership change earlier this year when Hana
al-Rostamani became the bank's first female chief executive,
replacing banking veteran Andre Sayegh who retired. 
    It has emerged as a major player in the loans and bonds
market in the Middle East and North Africa (MENA) and has been
involved in major regional transactions. 
    FAB is ranked as the top loan bookrunner year-to-year in the
MENA region and is also eighth in the regional debt capital
market league table, according to Refinitiv data.
    The bank was among the lenders in the $10.5 billion loan
deal to finance Saudi Aramco's sale of oil pipelines to a
consortium led by Washington DC-based energy infrastructure
investor EIG.
    FAB is also among the banks advising Abu Dhabi National Oil
Co (ADNOC) on the listing of its drilling business.
    Cairns in the past also worked with Bank of America Merrill
Lynch and HSBC, his Linkedin profile shows.

 (Reporting by Saeed Azhar; Editing by Emelia Sithole-Matarise)
 ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters
Messaging: saeed.azhar.reuters.com@reuters.net))