Alex Thursby left the bank shortly after directors recommended to merge with First Gulf Bank (FGB) last month. 

NBAD has revealed that Abhijit Choudhury, group chief risk officer, has been appointed as acting CEO with immediate effect. 

Abhijit will work closely with Abdulla MS AbdulRaheem, deputy group CEO, to lead the bank until the completion of its proposed merger, which is set to take place during Q1 2017.

HE Nasser Ahmed Alsowaidi, chairman of NBAD, thanked Alex for his service, adding: “Under his guidance, the bank has transformed into a modern, well-regarded, customer-oriented and results-focused financial institution.”

Meanwhile, Alex said it had been an honour to have been CEO of NBAD.

He added that he had left the bank in a very strong position to make a success of the merger and thrive in a competitive landscape.

“With the planning for NBAD’s integration with FGB now underway, I believe this is the right moment to hand over the reins to Abhijit Choudhury and a senior team that will plan for the merger. 

“I feel strongly that it is important from now that there is alignment between the decisions being taken during integration planning and implementation of these decisions after the merger is legally completed. 

“I would like to wish Abhijit, and all the employees of NBAD well for the exciting period ahead, and thank them for their support and dedication to building a highly successful bank.”

NBAD also revealed that Khalifa Sultan Al Suwaidi, current member of the board of directors, will take on the newly created position of managing director to support the bank through the integration planning process until the merger is completed.

Abdulhamid M Saeed, current managing director of First Gulf Bank, has been announced as the CEO designate of NBAD and is due to take up this position on completion of the merger.