QINVEST's Board of Directors appoints new Co-CEOs

Mr. Hussain Abdulla and Mr. Hussein Fakhreddine as new Co-CEOs of the bank

  
From left - Sheikh Jassim - Hussain Abdulla - Hussein Fakhreddine

From left - Sheikh Jassim - Hussain Abdulla - Hussein Fakhreddine

Doha: QINVEST, Qatar's leading investment bank and one of the region’s most prominent Islamic financial institutions, announced that its board of directors have appointed Mr. Hussain Abdulla and Mr. Hussein Fakhreddine as new Co-CEOs of the bank.

Mr. Tamim Al Kuwari has resigned as the Bank’s Chief Executive Officer but will remain in the position for a short period of time to support with the transition. He will also continue serving as Board Member at QInvest, to further support the bank’s strategy and future growth plans. Mr. Michael Katounas has also resigned as the bank’s Deputy CEO effective immediately.

H.E. Sheikh Jassim Bin Hamad Bin Jassim Al-Thani, Chairman of QInvest, stated: “We would like to thank Tamim for his service as CEO. During his tenure, QINVEST witnessed remarkable achievements in the midst of a difficult global financial environment”. He added: “We wish the new Co-CEOs all the best in the next phase of their respective careers.”

Mr. Abdulla and Mr. Fakhreddine have more than 22 years of combined experience at QINVEST and more than 30 years of professional experience in the financial services industry. They both bring extensive banking expertise, an expansive local and international network, and deep regional and international knowledge. The Co-CEOs will continue working on strategic transactions across QINVEST’s key markets in the Middle East, Turkey, and selected countries around the world, delivering value to the bank’s shareholders and clients.

Mr. Abdulla holds a B.A. in Banking and Financial Studies from University of Qatar, and Mr. Fakhreddine received his Master of Science in Finance from the George Washington University in Washington D.C. and the American University of Beirut in Lebanon.

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Email: bassel.hanbali@qinvest.com

About QINVEST LLC

QINVEST is the leading investment bank in Qatar, with activities across the Middle East and Europe. QINVEST has built world class investment and advisory capabilities, with the highest standards of governance and transparency underpinning its client-focused approach. The bank’s priority is to deliver high-value propositions, considered solutions and tangible results for its clients and shareholders.

QINVEST’s three business divisions are Investment Banking, Asset Management, and Principal Investments, which focuses on real estate, credit and equity investments. It has unrivalled expertise in structuring products and provides clients with Sharia’a compliant solutions quickly and competitively.

The Group has offices in Doha and Istanbul, as well as affiliates in India and the UK. Its team of investment professionals provides a blend of broad international experience, deep regional knowledge and unparalleled relationships in Qatar. This reach and range of skills uniquely positions the firm to facilitate the flow of business between Qatar, the region and global markets, making it a key institution in Qatar’s international investment plans.

QINVEST was incorporated in April 2007. It is licensed by the Qatar Financial Centre Authority and is authorized by the Qatar Financial Centre Regulatory Authority. QINVEST’s shareholders include Qatar Islamic Bank and other institutional investors, as well as high-net-worth individuals. The bank has authorized capital of US$ 1 billion and paid-up capital of US$ 546,752,457.

For further information, please visit www.qinvest.com

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