Two senior bankers leaving NBAD: Sources

Abu Dhabi: Two senior bankers at National Bank of Abu Dhabi are leaving the lender to pursue other opportunities, three sources said on Tuesday, at a time of changing strategy at the largest bank by assets in the UAE.

Sources told Reuters that Michael Aissaoui, executive director, corporate finance advisory, and Nicholas Gilani, head of merchant banking for the Middle East and North Africa, had resigned. They spoke on condition of anonymity as the information isn’t public. NBAD, 70 per cent owned by the Abu Dhabi government, has been realigning its business under new chief executive Alex Thursby, who took charge last summer. It is aiming to shift its earnings more towards fee-based income, such as for advising clients on debt issues and mergers and acquisitions, from gaining its cash primarily from lending-related activity.