First Abu Dhabi Bank (FAB) has announced the appointment of Rainer Kasch as managing director and head of Saudi Arabia securities services. Based in Riyadh, Kasch will be responsible for managing FAB Capital’s Saudi direct custody business and developing the securities services franchise with Saudi-based institutions.
Kasch joins from Standard Chartered, based in Singapore, where he was managing director and global head of network management, responsible for all custodian, cash and correspondent relationships with Standard Chartered’s 55 affiliates.
Kasch has over 20 years of securities services experience across the Middle East and Northern Africa (MENA) and Asia regions. At FAB, he will focus on global bank intermediary clients, providing access to the Saudi post-trade securities market through FAB’s direct membership of the local depositary, EDAA.
Additionally, he will oversee FAB’s local client relationships in Saudi Arabia, and continue to develop solutions to support the increasing complexity of these institutional investors that invest both in Saudi and across the globe.
Kashif Darr, FAB’s head of securities services, comments: “Our objective is to create the Middle East’s leading direct custody platform. Having market experts in each of our seven direct custody locations to support our clients as they navigate the region is key to our differentiated value proposition.
“Rainer’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”.
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