RIYADH: The largest bank in the UAE, First Abu Dhabi Bank has appointed Rainer Kasch as managing director and head of Saudi Arabia’s securities services, according to a statement.
With over 20 years of securities services experience across the Middle East, North Africa, and Asia, Kasch will be responsible for the management of FAB Capital’s Saudi direct custody business.
Under the new role, Kasch will also be accountable for further developing the securities service franchise with Saudi-based institutions.
Kasch is expected to focus on global bank intermediary clients. Through FAB’s direct membership of the local depositary, Kasch will be able to provide access to the Saudi post-trade securities market.
He will also oversee FAB’s domestic client relationships in the Kingdom, while developing solutions to back the increasing complexity of the institutional investors, which are investing in Saudi and worldwide.
“Rainer’s depth of experience in securities services will be a great addition to our Saudi team and help further our goal of being the custodian of choice for MENA,” the statement said, citing Kashif Darr, FAB’s head of securities services.
