Fimbank has announced the appointment of Adrian Gostuski as its acting CEO, replacing Murali Subramanian, who has resigned from the role after five years.

GTR understands that Subramanian chose not to renew his contract and is working on a number of new opportunities.

During his time at the bank, Subramanian oversaw the successful turnaround of the group, according to a statement by Fimbank. It adds that he registered “healthy profits as the bank’s capital and asset bases grew”. Subramanian, who joined the Malta-based bank from Abu Dhabi Commercial Bank in 2015, managed the launch of local real estate financing for developers and the bank’s digital banking platform.

Gostuski, who has served on Fimbank’s board for seven years, started his career at PwC before joining Citi, where he held various roles in Buenos Aires, New York, Singapore and Mexico City, including as managing director and chief financial officer of corporate banking in Latin America, according to the statement.

He joined Barclays in London in 2008 as chief financial officer of operations and technology for global retail banking, moving to Burgan Bank in 2011 to take up the group COO role.

John Grech, chairman of the Fimbank Group, says on the appointment: “Having been an active member of the Fimbank board for the past seven years, he is well-positioned to achieve our target objectives, as the bank strives to make its business model fundamentals even more attractive, generating sustainable value for all stakeholders.”

“Building on Fimbank’s expertise, strong foundations and good governance, we shall focus on driving consistent value generation for our shareholders,” says Gostuski. “This can only be achieved by providing innovative and effective solutions, which anticipate and cater for the evolving business needs of our clients.”