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StanChart Names Middle East Chief Risk Officer

Robbie Lawther

16 August 2018

has appointed Faisal Abu Shaar as chief risk officer of Middle East, country CRO of the United Arab Emirates and head of risk for Islamic banking. This publication has contacted the firm about whom Shaar has replaced in the roles, and will update in due course.  

Shaar has been with the bank for the last seven years and has held various roles including senior credit officer of Singapore, Australia and Philippines, and senior credit officer of Jordan. He was most recently the country CRO for the bank in Thailand, it said.

Prior to joining Standard Chartered, Shaar was chief operating officer at HSBC Bank Middle East (Jordan).

He will report directly to Ian Bryden, regional CRO of Africa and Middle East with an additional reporting line to Julian Wynter, chief executive of UAE. He is now based in Dubai, the bank’s regional headquarters for the AME region. 

“The UAE remains a key market for Standard Chartered and the largest single-country franchise in the region,” said Wynter. “I am confident Faisal’s global experience and insights will continue to add value to our strategy in the UAE. We are delighted to have Faisal on the team and wish him every success in his new role.”

In August, this publication reported that Standard Chartered had reported that its private banking business logged a pre-tax loss of $5 million in the six months to 30 June this year, widening from a loss of $1.0 million a year earlier.