First Abu Dhabi Bank appoints Saudi securities services head

First Abu Dhabi Bank (FAB) has named former Standard Chartered executive Rainer Kasch as managing director and head of Saudi Arabia’s securities services.

He will be responsible for managing the Saudi direct custody business of FAB Capital.

Kasch will be expected to develop the securities services franchise with Saudi-based institutions and global bank intermediary clients.

He was most recently global head, network management for Standard Chartered, based in Singapore. Prior to that, he spent seven years in London and Frankfurt with Deutsche Bank’s network management team.

“[Kasch’s] depth of experience in securities services will be a great addition to our Saudi team and help further our goal of being the custodian of choice for Mena,” said Kashif Darr, FAB’s head of securities services.

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