Dec 23 2009 |
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Gulf Finance House Announces Mr Ted Pretty As Acting Ceo Of Gulf Finance House Following Ahmed Fahour's Appointment By The Australian Government
Manama, Bahrain, Wednesday 23rd December 2009: Gulf Finance House (GFH) , the leading Middle Eastern Islamic Investment Bank announced today that the Board of Directors has reluctantly accepted Mr. Ahmed Fahour's resignation as a Board Member and Group CEO of the Bank.Mr Fahour has been appointed by the Australian Government as the Managing Director of Australia Post - a hugely important national asset for Australia. The Chairman, Dr Esam Janahi, said" We appreciate the significance of his new role with the Australian Government and we wish him all the best with this new challenge. Ahmed has agreed to continue to advise and support GFH , the Board and the Management."
Dr Janahi announced the departure of Ahmed Fahour and the appointment with immediate effect of Ted Pretty as Acting CEO of GFH . Mr Pretty was formerly an Executive Director with Macquarie Capital before joining GFH .
Dr Janahi continued, " GFH has significant cash reserves and we are actively developing our plans for growth".
Dr Janahi added "I am very confident we have the required team in place to execute the strategy we have outlined to the market and Ted Pretty is already driving forward with the changes we have seen in the past few months. Ted will focus on driving new revenues to deliver strong returns to our shareholders and investors and ensuring transparency to the market. ".
Newly appointed Acting CEO, Mr. Ted Pretty said, "I was brought on-board to lead our growth plans into private equity, investment banking and development infrastructure as these are the core activities of the new GFH strategy. I am pleased to be able to continue this process in an enhanced leadership role. I am very excited about the prospects for GFH going forward and look forward to advising the market in January about our new projects and initiatives."
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About Gulf Finance House
Established in 1999, Bahrain based Gulf Finance House (GFH) is one of the most successful and innovative Islamic investment banks in the Middle East. GFH historically focused on the conception and delivery of high value economic infrastructure projects. The Bank has also offered a diversified product range with a number of venture capital, private equity and asset management initiatives in addition to pioneering a number of Islamic financial institutions.
In addition to its share listings on the Kuwait and Bahraini Stock Exchange's and the Dubai Financial Market, 2007 witnessed the Bank's GDR listing on the London Stock Exchange. Over the past year, GFH has evolved its business model with a view to establishing itself as the world's leading Islamic investment bank. Under this new structure GFH will essentially operate with two primary businesses, GFH Real Estate & Infrastructure and GFH Capital.
The Bank has won numerous local and international awards as a testimony of its commitment to excellence and its pioneering and innovative approach, including "Best Investment Bank 2008", by Islamic Banking and Finance, "Best Investment Bank" three years running (2005-2007), awarded by Banker Middle East; "Best Islamic Investment Bank" by World Finance 2007; "MENA Investment Bank of the Year 2008" by Acquisitions Monthly; "Best Investment Bank 2008", by Islamic Banking and Finance; and "Best Islamic Finance House" at the Banker Middle East Industry Awards 2009.
For further information please contact:
Ahmed Al-Derazi
Public Relations-Corporate Communications Team
Tel: +973 17 538538 Ext (ext. 274)
Email: aalderazi@gfh.com
Website: www.gfh.com
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