• HSBC

BMB Investment Bank Chief Executive to step down

BMB Investment Bank announced today the resignation of Mr. Albert Kittaneh, its Chief Executive for the past sixteen years effective 15 February, 2009.

While Mr. Kittaneh is leaving BMB to pursue personal interests, he has agreed to remain advisor to the Bank until the end of 2009. The Board of Directors of the Bank will shortly announce the name of his successor.

In commenting on Mr. Kittaneh's resignation the Bank's Chairman, Mr. Wilson Benjamin, said:
"The Board of Directors would like to pay tribute to Mr. Kittaneh and the remarkable achievements his tenure has witnessed. Mr. Kittaneh took over the helm of BMB in 1993 under the most difficult of circumstances and implemented a bold new strategic direction, transforming BMB into an innovative and dynamic investment bank. While we are saddened by his resignation as Chief Executive, we take comfort in his continued association as an advisor of the Bank."


Meanwhile Mr. Albert Kittaneh said:
"It has been an immense privilege for me to lead BMB, and the last sixteen years have been incredibly fruitful and enriching. I leave BMB on a very solid footing and wish the Bank continued success."


Bahrain Middle East Bank (BSC) was established in 1982 and holds a Wholesale Banking License. The Bank's shares are listed on the Bahrain Stock Exchange under (BMEB.BH) and are held by shareholders primarily across the GCC.
Mr. Albert Kittaneh. 
Mr. Albert Kittaneh.
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Notes and Media Contacts »

For further information, contact:

Haya Abuzeid
EVP, Corporate Communications
BMB Investment Bank
Tel (973) 17 528 102
Fax (973) 17 530 987

Bayan Osborne
Account Executive
MEMAC Ogilvy & Mather W.L.L.
Manama, Bahrain
Tel (973) 17 561 720

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