Fimbank has announced the appointment of Murali Subramanian as its new CEO.

He joins the bank from Abu Dhabi Commercial Bank, where he held the position of head of transaction banking. He has previously worked at Citi and ABN Amro.

The appointment is effective as from August 6, 2015.

Meanwhile, Simon Lay, who has held the position of acting CEO at the bank since January 2015, will be appointed deputy CEO, while maintaining his position as managing director of London Forfaiting Company.

“We are delighted to announce the appointment of Murali Subramanian as CEO, whose appointment comes at a crucial time for the group,” says John Grech, chairman of the Fimbank group.