First Abu Dhabi Bank (FAB) has announced the opening of a new branch in Abu Dhabi Global Market (ADGM), after being granted a license by the ADGM Financial Services Regulatory Authority.

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.

Martin Tricaud, Group Head of Investment Banking, FAB, said, “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.

Mustafa Al Khalfawi commented, “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.”

WAM