First Abu Dhabi Bank (FAB) is set to undergo a significant restructuring by splitting its operations into four new divisions. This strategic move aims to enhance its business in the Gulf region and improve shareholder returns, according to two sources familiar with the situation.

As part of this reorganization, FAB has chosen Linos Lekkas, a veteran from Citi, to take on the role of head of investment banking. This decision comes as CEO Hana Al Rostamani seeks to drive faster growth for the UAE’s largest bank by assets, following several senior management departures in recent years.

The planned divisions will consist of investment banking and markets; wholesale banking; international banking; and personal, wealth, and business banking. Martin Tricaud, who currently leads investment banking, is expected to transition to oversee wholesale banking, as reported by sources who requested anonymity due to the sensitivity of the information.

Bloomberg first reported on the bank’s reorganization plans, which were outlined in a memo to staff. Since Al Rostamani took the helm in 2021, FAB has experienced a notable turnover in senior management, including the departures of Sameh Al Qubaisi, head of global markets, and Suhail Bin Tarraf, chief operating officer, earlier this year.

Additionally, Eric Shehadeh, who was appointed head of mergers and acquisitions and corporate development in mid-2023, left the bank after less than a year in his position. FAB has also been looking to expand its footprint beyond the Gulf region, having previously considered a bid for London-listed Standard Chartered two years ago.