Two FGB senior executives depart Abu Dhabi bank

FGB has revealed that Simon Penney, the head of wholesale and international banking, is to leave the bank at the end of next month, with a replacement confirmed.

“In his three successful years with FGB, Simon has led the development of the wholesale banking function to its current full service proposition across multiple segments and sectors,” the bank said in a statement.

He will be replaced by Shirish Bhide, who will start the role on July 1.

“Shirish joined us in 2013 from National Commercial Bank in the Kingdom of Saudi Arabia as head of wholesale credit group and has previously led institutional and commercial banking businesses in Citibank Africa and India,” FGB said.

Reuters reported this morning that Adrian Hodges, head of global markets sales at FGB, left in March, with the bank confirming his departure.

FGB announced in November it was cutting 100 jobs “as a result of efficiency measures that have streamlined and reduced roles across the operation”.

Last month it reported a first-quarter profit decline of 6.3 per cent as fee income dropped amid falling demand for debt as the economy cools.

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