Dean Procter, chief executive of Arbuthnot Latham & Co Limited, has resigned from his position and from the board of ABG to take up the position of executive general manager at Commercialbank of Qatar.
The board has already agreed terms with his successor who will be appointed as soon as regulatory approval has been obtained.
It is expected that Mr Proctor will leave the board in the first quarter of 2012 when his successor will join.
Mr Proctor has been with the group for three years.
Henry Angest, chairman and chief executive of ABG, said: “Dean Proctor made an outstanding contribution to the group throughout his time at Arbuthnot Latham. The progress of our private banking business over the last three years has been excellent.
“Dean Proctor’s management skills are exceptional and I am sorry to see him leave. In the last few years I have commented on my concern that the pre-eminence of the City of London and the UK’s financial services business will be damaged unless steps are taken to ensure that the business environment in which it operates remains competitive.
“Dean Proctor leaving to pursue his career elsewhere in the world is to me a further example of the danger of not maintaining a strong enterprise culture in the UK.”