Ahmed Fahour appointed as Gulf Finance House new Chief Executive Officer

Mr. Fahour is the former Executive Director and CEO for the Australian operations at National Australia Bank.

Lebanese born, Australia raised Mr. Fahour joined National Australia Bank (NAB) in 2004 to run its Australian and Asian business and was instrumental in leading a large scale turnaround and growth of the iconic financial institution. At the beginning of 2009, he left NAB to establish the Australian Business Investment Partnership (ABIP), a joint venture institution between the Commonwealth Government and Australia's four largest banks.

ABIP's principal goal is the provision of liquidity support of up to $30bn to the commercial real estate market hit by the financial crisis. Prior to joining NAB, Mr. Fahour was Chief Executive Officer of Citigroup for Australia and New Zealand after serving in their New York office as Vice Chairman - Citigroup Investments and CEO - Alternative Investments.

Mr. Fahour's appointment as CEO has been approved by the Bank's Board during their meeting on Wednesday 15th July and by the Central Bank of Bahrain. As CEO, Mr. Fahour will be central to GFH's continued navigation of the global financial crisis and the realization of a Board approved corporate vision that rewards the bank's loyal stakeholders.

Gulf Finance House Chairman Dr. Esam Janahi, commented:

"Mr. Fahour is a seasoned banker of rare ability and a professional who can draw on years of broad experience in the highest reaches of the global financial community."

"He will apply the most exacting standards of institutional governance, process and oversight throughout the organization and play an important role in the evolution of Islamic banking practices. Furthermore, his arrival will significantly enhance the Bank's exposure to those international markets critical to ensuring GFH takes the next important step towards it's primary goal - to become a truly global Islamic financial institution," he added.

"As a Muslim he has an inherent appreciation of the Islamic values that underpin our work and the philosophy woven into all GFH's key initiatives. We are delighted to have someone of his caliber to build on a decade of achievements and drive the continued emergence of GFH as a world class Islamic Investment bank," Dr. Esam said.

Commenting on his appointment today, Mr. Fahour said, "I am honoured and excited to accept the role of CEO at Gulf Finance House. GFH has a reputation for breaking the mould in originating excellent high value investment opportunities. As a business, it is visionary, ambitious, and unafraid - all characteristics that I deeply admire - all characteristics that have consistently rewarded emerging economies and investors alike for the past ten years."

"The team at GFH believe, as I do, that by instilling a culture of excellence, there is no limit to the success we can achieve together. It is for this reason that I am delighted to assume the role of CEO at GFH, and in so doing, play a leading role in the continued growth, diversification and prosperity of the Bank," Mr. Fahour added.