Simon Penney, head of First Gulf Bank’s (FGB) wholesale banking group will leave the bank on June 30, 2016, a spokesperson for the bank has confirmed to GTR.

Shirish Bhide will be appointed acting head of wholesale and international banking, effective July 1, 2016. Bhide joined the bank in 2013 from National Commercial Bank in Saudi Arabia as head of the wholesale credit group and has previously led institutional and commercial banking businesses at Citibank in Africa and India.

“In his three successful years with FGB, Simon has led the development of the wholesale banking function to its current full service proposition across multiple segments and sectors,” reads a statement issued by the bank.