Company: First Abu Dhabi Bank
Designation: Group CEO
Country of residence: United Arab Emirates
Abdulhamid Mohammed Saeed became the boss of the largest bank in the UAE on April 1, with the merger of National Abu Dhabi Bank (formerly the second biggest bank by assets in the country) and First Gulf Bank (formerly the fourth biggest). As Group CEO of the new First Abu Dhabi Bank (FAB), he will oversee the integration of the banks. The new institution has total assets of $185bn and a market value of $32bn.
Cost savings and rising revenues have already seen FAB record a 12 percent increase in profit during the first quarter, to $800m.
In April, Saeed described the new entity as “one of the world’s most prominent financial institutions”. He said it was “the start of a new journey to grow stronger – for our nation, our customers, our employees and our communities”.
Saeed is also managing director of Al Reem Investments and a board member of sovereign wealth fund Mubadala, the Abu Dhabi Finance Group and Emirates Investment Authority.