UAE Bank Hires Former StanChart Senior Exec As New CEO

UAE-based United Arab Bank (UAB) has announced the appointment of Ahmad Mohammad Abu Eideh as its new CEO.

The appointment, effective from March 10, comes as part of the bank's efforts to develop its services and provide more benefits to its customers, as well as achieving sustainable revenue for its shareholders, a statement said.

It added that Abu Eideh previously held the position of CEO at Standard Chartered Bank Middle East (Jordan, Egypt, Iraq and Lebanon).

He said that the trust that UAB’s board have placed in his capabilities only increases his determination to achieve the bank's vision of enhancing its value, and to meet the expectations of the bank’s shareholders and customers.

Abu Eideh has more than 27 years of experience in the field of banking and finance, 15 of which were spent in the UAE.

During his career, he has held a number of senior positions in leading financial institutions in the UAE and other countries in the region.

Sheikh Faisal bin Salem Al Qassimi, chairman of United Arab Bank, said: "We are confident that Ahmad Mohammad Abu Eideh will contribute, through his practical experience and his record of achievements in the field of banking and finance both regionally and globally, in developing the bank's operations and improving the quality of its programmes, products, services and solutions, which help to provide convenience for its customers as well as to sustainably promote and foster further success, growth, and prosperity."

Last year, United Arab Bank denied media reports suggesting that it is conducting talks with Invest Bank and Bank of Sharjah over a three-way merger.