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Tue 6 Sep 2016 04:21 PM

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Senior Bahrain banker set to step down in early 2017

Chief banking officer of Bank ABC, Ray Ferguson, will quit three years after arriving from Standard Chartered

Senior Bahrain banker set to step down in early 2017
Bank ABCs head office in Bahrain.

The chief banking officer of Bank ABC, Ray Ferguson, will step down from his position at the Bahraini lender in early 2017, according to an internal memo seen by Reuters on Tuesday.

Ferguson, hired from Standard Chartered in 2014, had been tasked with helping to formulate and implement a refreshed strategy at the bank which included expanding abroad and in wholesale banking, hiring new senior talent and optimising its capital base, the memo said.

Bank ABC has undergone a number of changes during Ferguson's time, including a rebranding from Arab Banking Corporation last year as well as establishing a capital markets team.

Among the people hired in the last three years include a new chief financial officer, and heads of compliance and treasury.

In late 2015, Ray expressed "his wish to step down from his role with Bank ABC to return to Asia to pursue several interesting and exciting career opportunities, and to spend more time closer to his family," the memo said.

"After discussions, Ray agreed to delay his plans and remain in his role for a further year" to help implement several strategic priorities and key executive hires, the memo continued, adding he would now leave early next year.

Any changes to the bank's management structure as a consequence of Ferguson's departure would be decided upon and announced in due course.

A spokesman for the bank confirmed the news when contacted by Reuters.

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