Paul Jennings will become group chief executive of Bank ABC in August, the lender said, after stepping aside from British Arab Commercial Bank (BACB).

The move marks a return to Bahrain-headquartered Bank ABC for Jennings, who previously spent 21 years at the lender, including almost six as chief executive at Bank ABC’s UK subsidiary, ABC Bank International.

Jennings left Bank ABC at the end of December 2020 and joined BACB as chief banking officer and deputy chief executive in November the following year, rising to chief executive officer in April 2023.

“Paul brings extensive banking experience, a strong track record of leadership, and a deep understanding of the group’s business model and markets,” Bank ABC group chairman H.E. Naji Belgasem said.

“In an evolving global environment, the board is confident that, alongside the group’s leadership team, he is well positioned to lead Bank ABC through its next phase of growth and to build on the strong foundations established over recent years.”

Jennings said he looks forward to “working and collaborating with colleagues across the group to build on its strengths, continue advancing its strategic priorities, and deliver sustainable value for our clients and stakeholders”.

Brendan Hopkins, who has been acting chief executive since Sael Al Waary stepped down from the role in late January, will remain at the bank in an advisory capacity, the lender’s statement said.

Bank ABC, which is majority-owned by the Central Bank of Libya, specialises in financing trade and investment flows between Europe and the Middle East and North Africa.

In a separate statement, BACB said Damian Austin, currently the bank’s chief banking officer, will become acting chief executive when Jennings departs.