Abu Dhabi: First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest and safest financial institutions, has appointed Clarence Singam-Zhou to the newly created role of Head of International Banking, subject to final regulatory approvals.
FAB’s international network spans five continents, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. Clarence Singam-Zhou has been with the bank since 2015, most recently serving as Regional CEO of Asia and Country CEO for Singapore.
FAB is accelerating its targeted global expansion having recently signed a definitive agreement to acquire 100% of the share capital of Bank Audi sae, Bank Audi’s subsidiary in Egypt. This followed the opening of a representative office in Jakarta, Indonesia in December 2020, and the establishment of a branch network in Saudi Arabia in 2019.
Based in Abu Dhabi, Clarence Singam-Zhou will work to implement the group’s international business strategies in close collaboration with the heads of the Corporate Investment Banking Group and Personal Banking Group and individual Country CEOs.
Fadel Al Ali, Deputy Group CEO & Head of Corporate & Investment Banking at FAB, said: “We are very pleased to promote Clarence Singam-Zhou to the new position of Head of International Banking at FAB. Already established as the UAE’s largest bank, FAB is fully committed to achieving strong and sustainable international growth as part of a global strategy. As new developments increase both the scale and complexity of our international operations, it is timely for us to create a new leadership role specifically focused on this increasingly important aspect of our business. Clarence has demonstrated that he is absolutely the best person for this role.”
Clarence Singam-Zhou, Head of International Banking, said: “I feel hugely privileged to have contributed to FAB’s success in Singapore and Asia during the past five years, and of all we have achieved together in that time. I feel that my new appointment is a positive reflection on the whole Asia team and the high benchmark for excellence that we have set. I look forward to new challenges, and to making a vital contribution to FAB’s success across all the markets where we operate as we grow stronger together.”
Clarence Singam-Zhou has spent his career in the financial services industry and previously worked for Westpac Banking Corporation, PwC, Rabobank, Maquarie Securities and Temasek Holdings. He holds a Bachelor of Laws & Bachelor of Economics degree from Monash University, a Masters in Applied Psychology from Nanyang Technological University, Singapore and a Post-Graduate Diploma in Organisational Leadership from Oxford University. He will begin his new role from 1 March 2021.
-Ends-
About First Abu Dhabi Bank (FAB)
FAB is the UAE’s largest bank and one of the world’s largest and safest financial institutions. FAB’s vision is to create value for its employees, customers, shareholders and communities to grow stronger through differentiation, agility and innovation.
Headquartered in Abu Dhabi, the bank’s international network spans five continents, providing global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. FAB is a trusted adviser and regional partner to major institutions, emerging companies and individuals seeking to do business in the UAE, the MENA region and beyond. As an engine of growth for the region, it helps customers to thrive and grow stronger by managing risk, providing access to capital and facilitating trade flows across developed and emerging markets.
FAB continuously anticipates evolving requirements, develops innovative solutions and moves in tandem with customers to offer an extensive range of tailor-made products via its market-leading Corporate and Investment Banking (CIB) and Personal Banking Group (PBG) franchises.
Aligned to the Abu Dhabi Economic Vision, inspired by global standards and guided by the expectations of stakeholders, FAB takes a leading role in fostering development and driving change towards a more sustainable future. FAB sees beyond traditional banking and embraces a challenger mindset. Its ambition is to contribute to social and human development, which creates a dynamic, inclusive and tolerant society.
With total assets of AED 919 Billion (USD 250 Billion) as of December-end 2020, FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch, respectively, the strongest combined ratings of any bank in the MENA region. The Bank has been ranked by Global Finance as the Safest Bank in the UAE and the Middle East, and the 32nd Safest Bank globally. The Banker’s Top 1000 World Banks 2020 list, measured by Tier 1 capital, ranked FAB as number one in the UAE, second in the Middle East and #85 across the globe - in addition to ranking the bank #109 by assets in the same list. FAB is also a regional sustainability leader, and a constituent of MSCI ESG Leaders and FTSE4Good EM indices.
For further information, visit: www.bankfab.com , or https://www.growstronger.com/ Grow Stronger or https://www.bankfab.com/en-ae/updates for COVID-19 related updates.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
