BankMuscat announces further senior level positions

The US$ 5.2 billion bank, which appointed global strategy firm Booz Allen Hamilton to help 're-organize' the bank in tune with emerging market trends, and its own strategic goals, had recently received a Board approval on its proposed new structure and had recently confirmed the reappointment of its chief executive, AbdulRazak Ali Issa, deputy chief executive, Sunder George and re-designation of erstwhile general manager-banking, Ahmed Al Abri as chief operating officer.

The new organization structure sees the bank's key businesses being focused into two large areas: commercial banking and wholesale banking. These are thereafter broken down into segments that focus specifically on corporate banking and consumer banking, treasury & capital markets, asset management and investment banking. International Operations continues to be a third important business line of the bank. Key support functions include operations & technology, human resources, credit & risk management, legal & compliance, finance & strategy, quality and corporate communications.

The new structure allows for several new young qualified Omani professionals to come to the fore. These include Suleiman Al Harthy, (Head of Consumer Banking - DGM level appointment) earlier AGM-Trade Finance & Small Business unit; Ali Said Ali, (AGM Asset Management) earlier Senior Manager Asset Management; Abdullah Hinai (AGM Investment Banking) earlier Manager - Investment Banking; Waleed Al Hashar (Head - Public / Government Sector - AGM level appointment) earlier Head - Corporate Liability; and Shamsa Al Seefi (Head IT - AGM level appointment) earlier Deputy Head IT at BankMuscat.

BankMuscat has in the past been through eight successful mergers and acquisitions that have resulted in organizational restructuring. This, however, is the first time that the organization has chosen to do so on its own accord. Though the restructuring process is expected to continue for several months, BankMuscat has, in the past, always been successful in ensuring that this does not affect its operations or levels of customer service. This time as well, the bank expects that it will be very much 'business as usual' for its growing customer base.