First Abu Dhabi Bank opens new branch in ADGM
Abu Dhabi; 16 June 2022 First Abu Dhabi Bank (FAB) has opened a new branch in Abu Dhabi Global Market (ADGM), after being granted a license by the ADGM Financial Services Regulatory Authority. The opening is a key milestone in FAB’s expansion plans and will help to further strengthen ties with clients based in Abu Dhabi’s international financial centre.
Functioning as standalone entity under ADGM rules, the branch’s clientele base includes multinational, regional and local top-tier corporates, financial institutions, including non-banking financial institutions, and government-related entities. Its focus is to serve and develop relationships with FAB Group’s core clients operating in and from ADGM, drawing on FAB’s global relationships, expertise and financial strength.
Speaking about the ADGM branch, Martin Tricaud, Group Head of Investment Banking, FAB, said: “ADGM is elevating Abu Dhabi’s position as a global trade and business hub, and deepening the Emirate’s role as a bridge between the region and other key international markets. With the expansion of our presence in ADGM’s vibrant financial services ecosystem, FAB can better serve its clients through specialised offerings, and develop relationships with key entities. The branch will also enable FAB to better service the expansion and globalisation ambitions of its clientele based in ADGM.”
The new branch is now fully operational, and will be led by Mustafa Al Khalfawi as CEO of FAB ADGM branch, in addition to his current role as Head of Global Banking UAE & Global Head of Government, Sovereigns and Public Sector at FAB. Al Khalfawi is an experienced banker who has been with the bank since 2008. He brings to the role over 20 years of experience in the financial sector, having held several key positions throughout his career.
Commenting on the new office, Mustafa Al Khalfawi added: “We are pleased to open our branch in ADGM and make a further contribution to the UAE’s growth story by providing financial services to thriving businesses. Establishing an office here is an important milestone in our strategic relations with ADGM. It will help deepen ties with our clients operating from the financial centre, allowing us to provide more tailor-made solutions, and support our clients’ growth in the UAE and beyond. We look forward to providing an exceptional banking experience and drive the future of banking in the UAE and the region.”
FAB has a significant international footprint with a network that spans five continents to provide global relationships, expertise and financial strengths to support local, regional and international businesses seeking to do business at home and abroad.