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FAB crowns Hana Al Rostamani as queen bee CEOMENA

FAB crowns Hana Al Rostamani as queen bee CEO

Who run the world? Girls! (We know whose voice you sang that in).

The UAE’s largest bank, First Abu Dhabi Bank (FAB), just appointed its first female CEO – Hana Al Rostamani.

Al Rostamani takes the top spot at the $44b bank, a step up from her current role as Deputy Group Chief Executive Officer and Head of Personal Banking. In her previous role, Al Rostamani was Chair(wo)man of FAB Private Bank Suisse.

This is FABulous news for the MENA region, which already has a few women in top leadership positions, including Haifa Al Khaifi (who last week became the CEO of a new company responsible for overseeing Oman’s biggest oil block), Sarah Al Suhaimi (Chairwoman of Saudi Arabia’s stock exchange), and Elissar Antonio (Head of MENA Cluster and CEO of UAE at Citi).

The move was announced just as FAB released their 2020 full-year report, registering a net profit of Dh10.6b compared to Dh12.5b in 2019, showcasing its strength in a difficult year. The bank’s shares were up by as much as 2.7%.

why it matters
Since FAB is such a major entity, their management decisions can and will ripple across not just the banking industry but other financial sectors throughout MENA. Their choice to appoint a woman for the top spot sets a positive example.