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Report: Deputy CEO among 4 execs leaving NBAD ahead of First Gulf merger

National Bank of Abu Dhabi PJSC's deputy CEO is among four executives leaving the lender ahead of its merger with First Gulf Bank PJSC, Reuters reported Dec. 28, citing sources.

Deputy group CEO Abdulla Mohammed Saleh AbdulRaheem will leave the bank alongside Qamber al-Mulla, senior managing director and CEO of Gulf and international business. Saif al-Shehhi, senior managing director in the United Arab Emirates government group and VVIP clients, and Abdulla Bin Khalaf al-Otaiba, senior managing director and group head of global retail and commercial, will also leave.

National Bank of Abu Dhabi and First Gulf Bank expect to complete their merger in the first quarter of 2017. It was not clear whether the four executives' departure was linked to an expected reduction in the combined bank's staff, Reuters noted.