Arab Banking Corporation (ABC), the Bahrain-headquartered multinational bank, has announced that Group Chief Executive Officer Sael Al Waary will retire effective 31 January 2026. The bank's Board of Directors has appointed Brendon Hopkins, currently Group Chief Financial Officer, as Acting Group CEO from 1 February 2026, placing a senior finance executive at the head of the institution during the transition period.
The leadership change was announced following a Board of Directors meeting held on 14 December 2025. The Board's decision to elevate Hopkins to the acting role rather than conduct an immediate external search reflects a preference for leadership continuity and the practical benefit of having an executive with deep institutional knowledge of the group's financial position assume oversight responsibilities without delay.
AL WAARY DEPARTS AFTER STEERING GROUP THROUGH KEY YEARS
Sael Al Waary has served as Group CEO at ABC through a period of significant change in the broader Gulf banking environment, during which institutions across the region have confronted shifting interest-rate cycles, the demands of digital transformation and evolving regulatory frameworks. Under his tenure, ABC maintained its focus on trade finance, treasury operations and corporate banking, while working to modernise its service delivery and deepen client relationships across its multinational network. His retirement closes a chapter of leadership that the Board has acknowledged as a period of steady stewardship for the group.
ABC is majority-owned by the Libyan Foreign Bank and operates a network spanning the Middle East, North Africa, Europe and the Americas. The group's Bahrain base positions it as one of the Gulf region's most established wholesale banking names, with a long track record in facilitating cross-border transactions for corporate and institutional clients across multiple jurisdictions. Al Waary's departure marks the conclusion of a significant phase in ABC's recent institutional history, with the group now entering a period of deliberate leadership reassessment.
The Board's announcement of Al Waary's retirement did not specify the reasons for his departure beyond describing it as a retirement effective at the end of January 2026. The announcement was made promptly following the 14 December Board meeting, giving the organisation, its clients and its regulators several weeks' notice before the leadership change takes effect and allowing time for a structured handover process to be put in place.
HOPKINS BRINGS FINANCIAL EXPERTISE TO TOP ROLE
Brendon Hopkins's background as Group CFO gives him extensive familiarity with ABC's capital structure, funding arrangements, risk exposures and financial reporting obligations. A CFO-turned-acting-CEO brings the considerable advantage of having sat at the executive table with full visibility over the group's strategic and financial decisions, making the transition to the top role less disruptive and more coherent than an appointment from entirely outside the organisation would be at such short notice.
ABC has not indicated a definitive timeline for confirming a permanent Group CEO appointment. Hopkins will assume the acting role on 1 February 2026, the day after Al Waary's retirement takes effect. The bank has stated that the handover has been planned carefully to ensure operational continuity across the group's global network, and both executives are expected to work together during the intervening weeks to facilitate a smooth transfer of responsibilities.