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Bank ABC has announced the retirement of its group chief executive officer Sael Al Waary, effective January 31 next year.
The announcement of Mr Al Waary’s retirement, following the meeting of its board of directors on December 14, concludes discussions about his wish to retire, after more than four decades of service at Bank ABC Group.
During his tenure, Mr Al Waary guided the bank through significant transformation and digital advancement, strengthened the group’s financial position, and reinforced its long-term strategic resilience.
The board extended its appreciation to Mr Al Waary for his leadership and conveyed its best wishes to him for the future.
The board appointed Brendon Hopkins, group chief financial officer, as acting group CEO, with effect from February 1 next year. Mr Hopkins is a long-time member of the Bank ABC leadership team and has contributed significantly to the group’s financial stewardship, strategic planning and transformation agenda over the years.
The interim arrangements will remain in effect during a defined transition period, while the board undertakes a structured assessment and advances its plans for permanent succession. Mr Al Waary will continue to be associated with the group and will assist the board of directors, while also providing support to Mr Hopkins, as required, to ensure continuity and effective transition.
Commenting on the transition, Bank ABC chairman Naji Belgasem said: “On behalf of the board, I would like to extend our sincere thanks to Sael for his long-standing service and leadership at Bank ABC. Over the course of his career, he has made impactful contribution to the group’s development and strategic progress and wish him every success in the future.”
Mr Al Waary said: “It has been an honour and privilege to serve Bank ABC for over 40 years and to work with so many exceptional colleagues across the group. I would like to thank the board, our clients, and the entire Bank ABC family for their trust and tremendous support over the years. I am proud of what we have achieved together and remain confident in the strength and future of the bank.”
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