Bahrain-based Arab Banking Corporation (ABC) has announced key changes in the top management team at its European subsidiary, ABC International Bank in London.

William (Bill) Playle has been appointed as the new chief executive officer of ABC International Bank after the announced retirement of Nofal Barbar.

Bill has worked at ABCIB since May 2002 and was formerly deputy CEO of the bank, having previously served also as the bank's head of risk management.

Prior to joining ABC, Bill held senior positions in business, risk and general management functions, primarily within the Barclays Group.

On the same date, Paul Jennings and Alexander Ashton were named joint deputy chief executive officers of ABCIB.

Alexander has been the General Manager of the bank's Paris branch since joining ABCIB in 2003 and was in senior management roles, both overseas and in UK, in Lloyds Banking Group before joining the bank.

The European branch General Managers will report to Alexander, as well as many of the support functions including Finance, Compliance, Legal and Operations.

Alexander will also act as the CEO as and when required due to any absence of the CEO, said a statement from ABC.

Jennings is currently, and will remain, the Head of Global Trade Finance for ABC Group in addition to his new duties as Deputy CEO of ABCIB.

Since joining ABCIB in 1999, Paul has successfully transformed the Trade Finance business enabling ABC Group to be recognised as a ‘market leader’ in this field.

ABCIB chairman Hassan Juma said, 'ABCIB will continue to play a critical role in ABC Group's development, and it is a very positive sign that we have been able to fill these important posts internally.'

'Bill possesses tremendous knowledge of our products, clients, people, the European market and of ABC itself. Combined with Paul and Alexander, I am very confident that we have excellent management in place to lead ABCIB through what I am sure will be a challenging market place,' he added.

On his new role, Playle said 'The new management team is very strong and has complementary skills that will ensure continued success for the bank. I am looking forward to working with ABC senior management and ABCIB Board to develop the business model of the European unit further.'-TradeArabia News Service