New CEO for FIMBank Group
Global trade finance specialist FIMBank plc, has announced the appointment of Mr Murali Subramanian as its new chief executive officer (CEO). Mr Subramanian is a results-oriented senior banker with a proven track record in developing and executing growth strategies on a global basis.
Prior to joining FIMBank, Murali was executive vice president at Abu Dhabi Commercial Bank for six years, where he held the position of head of transaction banking of the group. His key responsibilities at this financial institution included the management of trade and supply chain growth business where he oversaw the growth and return to profitability of this USD 250m revenue business. This followed a 21-year career at Citibank and earlier ABN AMRO, where he occupied various posts in several geographies, ending his career at Citi as managing director, global head of domestic payables. Murali considers his role in the development of the company’s domestic payables capabilities in 105 countries, as well as having built the trade, supply chain and cash management businesses in MENA, West Africa, Russia and the CIS, amongst his major achievements at Citibank.
Murali holds a bachelor of technology in mechanical engineering degree from the Indian Institute of Technology, as well as a masters in business administration, finance and international business from the Indian Institute of Management.
Dr John C. Grech, chairman of the FIMBank Group, said: “We are delighted to announce the appointment of Murali as CEO, which appointment comes at a crucial time for the group. Murali is an experienced banker with an impressive track record. Throughout his career, he has proven himself as a corporate leader, possessing strong banking acumen and particular expertise in trade finance and financial technology innovation. We are confident that he will successfully steer the bank towards the goals we have set, and that under his leadership these will effectively lead to restoring shareholder value.”
The appointment of Murali will be effective as from the 6 August 2015 and is subject to the MFSA’s approval as well as the completion of all other mandatory formalities. Meanwhile, Mr Simon Lay, who has held the position of acting CEO at the bank since January 2015, will be appointed as deputy CEO, while maintaining his position as managing director of London Forfaiting Company Ltd.