Islamic Bank of Asia chief resigns

DBS Islamic arm maintains commitment on bank's growth following CEO Vince Cook's quitting.

Islamic Bank of Asia (IBA) announced that its head has tendered his resignation.

"We confirm that Vince Cook, CEO of Islamic Bank of Asia, has resigned from the bank for personal reasons. His last day is December 18, 2009," an IBA spokeswoman said in a report in Reuters.

IBA said that following Cook's resignation, Tan Jeh Wuan, the Islamic bank's managing director for corporate banking and capital markets, will be responsible for its daily operations, while Eric Ang, DBS's head of capital markets and an IBA director, will provide oversight of the Islamic bank's business.

According to a source, Cook planned to join a bank in Qatar, which the IBA spokeswoman said she could not confirm.