MANAMA: Arab Banking Corporation (ABC) has made two senior management level appointments as it embarks on an ambitious plan to become a leading player in the Middle East and North Africa (Mena) region.
Following on the appointment of Dr Khaled Kawan as group chief executive last year, the board of ABC approved a significant realignment of group-level senior management responsibilities, which will accelerate its transformation.
Ray Ferguson will join the ABC Group from Standard Chartered Bank and will be appointed executive vice-president and group chief banking officer, based in Bahrain.
In his new role, Mr Ferguson will oversee ABC's global banking business, which is represented by ABC's five global businesses: group corporate and structured finance, group trade finance, group treasury, group Islamic banking and group retail.
He will join ABC during the second quarter of this year.
Sael Al Waary, currently senior vice-president and group chief operating officer, will be elevated to executive vice-president, with an expanded role as group chief operating officer.
His appointment is with immediate effect. Besides his current responsibilities for group-wide operations, Mr Al Waary will take on additional responsibilities for overseeing all group human resources, regulatory, compliance, legal affairs, expenses management and operational and administrative functions in all geographical locations where the ABC Group is present.
Both Mr Ferguson and Mr Al Waary will report to the group CEO.
Dr Kawan said ABC has a clear and focused strategy in place.
"These changes to our organisational structure, with the addition of Ray, and the increased responsibility for Sael, will add momentum to our transformation journey," he said.
Mr Ferguson said ABC is a fantastic brand and the board has agreed on an ambitious transformation plan that builds on the excellent reputation ABC enjoys.
Mr Al Waary said he is looking forward to working with Dr Kawan and Mr Ferguson and the rest of the ABC senior team as it enters a new phase of growth.
Bahrain-headquartered and listed ABC is a leading player in the Mena region's banking industry and for more than three decades, has been supporting the flow of trade and investment between Mena and the rest of the world leveraging its network of subsidiaries and offices across the world in Algeria, Bahrain, Brazil, France, Germany, Egypt, Italy, Jordan, Singapore, Sweden, Tunisia, Turkey, Libya, the UK, Russia and the US.