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National Bank of Kuwait (NBK) announced the appointment of Mr. Faisal Abdul-Latif Al-Hamad as Head of Group Wealth Management, and Mr. Omar Bouhadiba as Chief Executive Officer of International Banking Group, effective 1 April 2021, after obtaining the required approvals from the Central Bank of Kuwait.
The appointing of Mr. Al-Hamad comes in line with the group’s aspirations to seize regional and international growth opportunities, through further integration between NBK Capital, the Group’s investment arm and the Private Banking Division. This aims to strengthen the bank’s wealth management footprint by providing a wider range of high-quality products and services to meet the needs of investors, institutional clients and high-net-worth individuals, leveraging the Group’s global wealth management platform.
Building on the professionalism and technical competencies of its team members along with NBK’s financial capabilities, Group Wealth Management will pursue several wealth management-related investment projects supported by NBK’s broad geographical footprint spanning 4 continents and 15 countries worldwide. The Group also targets higher AUMs growth as part of its efforts to further diversify its income sources, a key pillar of the Group’s strategy.
Al-Hamad has extensive experience exceeding 18 years in investment, wealth management and strategic relationships, as well as financial restructuring, organizational development, strategy and corporate governance. He also held several leading positions in NBK Capital since he joined in 2007.
Al-Hamad holds an MBA from Harvard Business School and a Bachelor Degree from the University of Chicago.
On the other hand, Omar Bouhadiba, the CEO of International Banking Group holds a Master degree in Business Administration (MBA) in Finance from the Wharton School, University of Pennsylvania (USA). Bouhadiba has over 39 years of experience in corporate and investment banking, with Bank of America, Mashreq Bank, NBK, Arab Bank plc and most recently with International Bank of Qatar in the position of Chief Executive Officer.
International Banking Group continues striving to achieve utmost benefit by providing various products in different geographies for NBK customers in Kuwait, wherever they are.
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About National Bank of Kuwait (NBK):
NBK was founded in 1952 as the first home-grown bank and the first joint stock company in Kuwait and the Gulf Region. NBK reported net profits of USD 812.3 million (KD 246.3 million) for 2020. NBK's total assets were USD 98.0 billion (KD 29.7 billion) at the end of 2020, while shareholder equity stood at USD 10.5 billion (KD 3.2 billion).
NBK is the largest financial institution in Kuwait with effective market dominance in the commercial banking market and has been consistently awarded one of the highest credit ratings among all banks in the region from Moody's, Standard & Poor's, and Fitch Ratings. NBK also stands out in terms of its local and international network, which includes branches, associates and subsidiaries in China, Geneva, London, Paris, New York, and Singapore alongside its regional presence in Lebanon, Jordan, Egypt, Bahrain, Saudi Arabia, Iraq, Turkey, and the UAE.
Long-term credit ratings:
- Moody’s A1
- Fitch Ratings AA-
- Standard & Poor’s A
© Press Release 2021
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