In his new role, Marwan will oversee all HSBC Middle East Finance Company businesses and operations in UAE. He is also responsible for enhancing business growth of the company which is the vehicle finance arm within Personal Financial Services in the UAE.
Prior to taking up his new position Marwan was the deputy Managing Director of HSBC Middle East Finance Company (MEFCO) a role he held since December 2008 where he supported the development of the company.
Commenting on Marwans's appointment, Abdulfattah Sharaf, Chief Executive Officer, PFS - Middle East & North Africa, HSBC Bank Middle East Limited, said, "In these challenging times there continues to be growth and improvement opportunities for the delivery of vehicle and asset finance in the UAE. Marwan will serve in a key management role as MEFCO evolves its development of products and services. I look forward to working with him to further grow MEFCO's market share and bring new and innovative products to our customers."
Marwan added, "I am extremely pleased to be joining the MEFCO executive team, contributing to growing the business in the UAE and extending HSBC's brand and auto finance solutions and service levels over the long-term."
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HSBC Middle East Finance appoints first UAE national as Managing Director
- United Arab Emirates: Tuesday, September 15 - 2009 at 14:38
- PRESS RELEASE
HSBC Middle East Finance Company (MEFCO) has announced the appointment of Marwan Mahmoud Hadi as the first UAE national in the position of Managing Director.
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Notes and media contacts
About HSBC Bank Middle East Limited (HSBC):HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 45 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, Pakistan and the Palestinian Autonomous Area. In addition to the branch network the Bank maintains representative offices in Tehran, Iran and Tripoli, Libya. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt SAE; and by its associated companies; The Saudi British Bank; British Arab Commercial Bank Limited; HSBC Saudi Arabia Limited; SABB Securities Limited; SABB Takaful Co.; and Dar Es Saalam Investment Bank.
About MEFCO:
• Established in the United Arab Emirates in 1969.
• Mandated to provide finance mainly for the purchase of vehicles & motorcycles
• HSBC Bank Middle East ("HBME") has an 80% shareholding in MEFCO. The remaining 20% is owned by the Government of Dubai.
• Operates through three branches situated in Dubai, Abu Dhabi and Al Ain and through implants in HSBC branches in Ras Al Khaimah, Fujairah, Sharjah, Deira Dubai, Bur Dubai and Jebel Ali.
• Comprehensive product suite including conventional and Islamic vehicle finance solutions.
Media enquiries:
Andrea Jaishankar
Manager Communications
HSBC Bank Middle East Limited
Tel: +971 4 4235635
Fax: +971 4 4267372
Posted by Siba Sami AmmariTuesday, September 15 - 2009 at 14:38 UAE local time (GMT+4)
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