(Bloomberg) -- Mustafa Al Khalfawi is poised to become chief executive officer of Ajman Bank after resigning from First Abu Dhabi Bank PJSC, the United Arab Emirates’ largest lender.

Al Khalfawi’s new role is still subject to final approvals, according to people with knowledge of the matter, who asked not to be identified because the matter is private. He was FAB’s global head of government, sovereigns and public sector, as well as head of global banking for the UAE.

He will replace Mohammed Abdulrahman Amiri, whose resignation was announced by Ajman Bank earlier this week.

A representative for FAB declined to comment. Al Khalfawi didn’t respond to an email sent to his FAB address and a LinkedIn message. 

Senior Departures

The departure of Al Khalfawi, who’d worked at the Abu Dhabi lender for 15 years, adds to a growing roster of senior bankers who have left FAB in recent months, leaving some of its key businesses being managed by acting heads.

The bank has recently been replenishing its staff following a broad management overhaul since Hana Al Rostamani took over as group chief executive officer in 2021. Last month, it hired Eric Shehadeh as group head of mergers and acquisitions and corporate development, and Sameh Al Qubaisi as the group head of global markets. 

FAB’s churn in senior staff comes at a time when the Abu Dhabi-based lender is looking to become a global financial powerhouse. Formed from the merger of National Bank of Abu Dhabi and First Gulf Bank in 2017, it’s about half owned by sovereign wealth fund Mubadala Investment Co.

--With assistance from Omar Tamo.

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