Wednesday, Nov 28, 2012
DOHA (Zawya Dow Jones)--Five senior managers have left Qatari Islamic investment bank QInvest, after a new chief executive was appointed last week, the company said Wednesday.
"Jobs have been eliminated and colleagues have left the firm," QInvest said in a statement. A spokesman for the bank said five senior managers had left in investment banking, financial institutions and restructuring, placement and wealth management, corporate services and risk management.
In the statement, the bank said the QInvest Chief Executive Officer Tamim Al Kawari, who was appointed last week replacing Shahzad Shahbaz, "had evaluated the current situation and identified means and channels to increase effectiveness and efficiency".
QInvest is seeking regulatory approval for a joint venture with Egypt's EFG-Hermes.
Write Alex Delmar-Morgan at alex.delmar-morgan@dowjones.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
28-11-12 0959GMT
