Abu Dhabi’s ADCB hires top UK exec as advisor

Abu Dhabi Commercial Bank (ADCB), the UAE’s third biggest bank by market value, has appointed the chairman of the UK’s Standard Life as adviser to the bank’s board. Gerry Grimstone, a former investment banker at Schroders, replaces Lord Mervyn Davies of Abersoch whose term expired recently, ADCB said in a statement on Wednesday. Currently, Grimstone is chairman of Standard Life. He has also run businesses in London, New York and Asia Pacific and was an official in the UK’s Treasury where he was responsible for privatisation and policy towards state-owned enterprises. From GulfToday