British Arab Commercial Bank (BACB) has confirmed Damian Austin as its permanent chief executive after the departure of former chief Paul Jennings.

The trade finance lender said Austin would remain at the helm after taking on the role on an interim basis when Jennings left to become chief executive at Bank ABC.

Austin’s appointment will ensure “continuity” for BACB’s markets and clients, the bank said, as it pursues a modernisation and expansion programme.

“Damian is well placed to build on the bank’s current success and take it forward,” BACB chairman Yousef Al Awadi said. “He has a track record of delivery, and his wealth of experience in the sector is complemented by the strong relationships that he’s developed over the years.”

Austin began his career at BACB in the 1990s. He moved into trade finance roles at WestLB, HSBC, Barclays and Bank ABC before rejoining BACB in 2022. Prior to being appointed acting chief executive he was chief banking officer.

“I am delighted to have been appointed as chief executive officer at BACB having started my career here over 30 years ago,” Austin said in a statement, “it is indeed an honour.”