CEO Paul Jennings to depart BACB after five successful years

BACB has announced that Paul Jennings has taken the decision to step down as Chief Executive Officer.

During his five years at the Bank, Paul fulfilled a number of roles, including Non-Executive Independent Director, Chief Banking Officer and Deputy CEO, before his appointment as CEO three years ago.

Having led the bank through a period of notably strong performance, overseeing successive record financial results, Paul departs with the confidence that BACB is well-placed to continue its trajectory of growth.

Commenting on the announcement, BACB Chairman Dr Yousef Al Awadi KBE said: “I would like to extend appreciation and thanks on behalf of BACB’s Board to Paul for his effective leadership over the last three years as CEO, and five years at the bank. Achieving, and then sustaining, the exceptional levels of performance BACB has enjoyed is a real achievement. We are grateful for the foundations Paul helped build, and for the care he has shown for our colleagues and clients, and we all wish him every success in his future roles.”

Paul Jennings said: “Over the past three years, through a well-defined strategy, and careful execution by a truly dedicated team, BACB has delivered exceptional financial results reaching record levels in the bank’s history. This is a significant achievement for the whole BACB team that we are all very proud of. The bank has a robust business model and I have no doubt that thanks to the investments we have made, the expertise and commitment of our colleagues and the support of our Chairman, Board of Directors and Shareholders, the Bank continues to be in a strong position for continued success.” 

Damian Austin, BACB’s Chief Banking Officer, will be appointed Acting Chief Executive following Paul’s departure.

BACB’s strategy is unchanged, and the bank’s focus remains where it has always been: serving clients across its core markets, supporting colleagues, and building a stronger business for the long term.