An Interpol arrest warrant for the chief executive of Abu Dhabi Commercial Bank ADCB.AD is a personal matter relating to his divorce and not connected to the bank's operations, the bank said on Thursday.
The emirate's third-largest bank by market value said it supported Eirvin Knox, a 59-year-old American, who has headed ADCB since 2003.
"This is a personal matter linked to his personal divorce case and is not linked in any way to the bank's activities," the bank said in a statement.
The warrant was issued in the Philippines, where Knox once worked as the head of a major bank, and relates to "a violation of an early 2004 (Philippine) act pertaining to violence against women and their children," Interpol sources told Reuters.
The Interpol warrant is classified as a "red notice" which seeks the arrest of a wanted person with a view to extradition, they said.
"He was married to a Filipina and she is a very well connected person," a senior official at ADCB told Reuters, declining to be identified.
ADCB said Abu Dhabi courts had already ruled in favour of Knox and the "current matter is linked to the implementation of a sentence between him and his divorcee".
Knox did not respond immediately to calls for comment. The UAE Interior Ministry and police officials declined comment.
"MANAGEMENT ADJUSTMENT"
"I don't know the extent of what the legal difficulties are but there certainly seems to be a possibility that it will require some management adjustment," said Raj Madha, director of equities research at EFG-Hermes.
"If so, that would be disappointing particularly as it follows the departure of the CFO in August 2007."
Knox joined ADCB having come from Ahli Bank of Kuwait, according to a biography on Global Real Estate website (www.globalrealestate.org).
Knox was a country chief executive for 24 years with Standard Chartered Bank and Continental Bank of Chicago, having started his career in the United States with earlier assignments including Wells Fargo Bank and Continental Bank, the website said.
According to World Trade Markets country guide, which contains information provided by the U.S. Department of Commerce, Knox was previously the chief executive of Standard Chartered in the Philippines.
Knox graduated from the University of California.
The Government of Abu Dhabi, through Abu Dhabi Investment Council, holds 65 percent of ADCB's capital while the rest is held by various UAE institutions and nationals, according to a company statement.
Since joining the bank in 2003, Knox has overseen a near 400 percent growth in net profit to 1.98 billion dirhams ($539 million) last year from 405 million in 2003, according to Reuters data.
ADCB -- which agreed to buy Malaysia's fourth-largest lender RHB Capital last month -- plans to double profit during the next two years by making acquisitions in countries such as Malaysia and entering the Islamic finance industry, Knox said in April.
Shares in ADCB closed up 0.95 percent on Thursday and are down 1.48 percent this year. In contrast, National bank of Abu Dhabi NBAD.AD and First Gulf Bank FGB.AD are up 11.01 percent and 18.18 percent this year.
The emirate's third-largest bank by market value said it supported Eirvin Knox, a 59-year-old American, who has headed ADCB since 2003.
"This is a personal matter linked to his personal divorce case and is not linked in any way to the bank's activities," the bank said in a statement.
The warrant was issued in the Philippines, where Knox once worked as the head of a major bank, and relates to "a violation of an early 2004 (Philippine) act pertaining to violence against women and their children," Interpol sources told Reuters.
The Interpol warrant is classified as a "red notice" which seeks the arrest of a wanted person with a view to extradition, they said.
"He was married to a Filipina and she is a very well connected person," a senior official at ADCB told Reuters, declining to be identified.
ADCB said Abu Dhabi courts had already ruled in favour of Knox and the "current matter is linked to the implementation of a sentence between him and his divorcee".
Knox did not respond immediately to calls for comment. The UAE Interior Ministry and police officials declined comment.
"MANAGEMENT ADJUSTMENT"
"I don't know the extent of what the legal difficulties are but there certainly seems to be a possibility that it will require some management adjustment," said Raj Madha, director of equities research at EFG-Hermes.
"If so, that would be disappointing particularly as it follows the departure of the CFO in August 2007."
Knox joined ADCB having come from Ahli Bank of Kuwait, according to a biography on Global Real Estate website (www.globalrealestate.org).
Knox was a country chief executive for 24 years with Standard Chartered Bank and Continental Bank of Chicago, having started his career in the United States with earlier assignments including Wells Fargo Bank and Continental Bank, the website said.
According to World Trade Markets country guide, which contains information provided by the U.S. Department of Commerce, Knox was previously the chief executive of Standard Chartered in the Philippines.
Knox graduated from the University of California.
The Government of Abu Dhabi, through Abu Dhabi Investment Council, holds 65 percent of ADCB's capital while the rest is held by various UAE institutions and nationals, according to a company statement.
Since joining the bank in 2003, Knox has overseen a near 400 percent growth in net profit to 1.98 billion dirhams ($539 million) last year from 405 million in 2003, according to Reuters data.
ADCB -- which agreed to buy Malaysia's fourth-largest lender RHB Capital last month -- plans to double profit during the next two years by making acquisitions in countries such as Malaysia and entering the Islamic finance industry, Knox said in April.
Shares in ADCB closed up 0.95 percent on Thursday and are down 1.48 percent this year. In contrast, National bank of Abu Dhabi NBAD.AD and First Gulf Bank FGB.AD are up 11.01 percent and 18.18 percent this year.
/Reuters/
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