UGB appoints Assistant General Manager Treasury

Mr Sarhan joined United Gulf Bank in December 2002 as Senior Vice President and has more than 23 years of experience in Treasury. He has previously worked with Credit Agricole Indosuez (CALYON ), Capital Union, Standard Chartered Bank, Banque Indosuez, Bahrain Middle East Bank and Security Pacific National Bank. He holds a Banking Studies Diploma Programme (Intermediate and Advanced Level), and received the Investcorp Award for Outstanding Graduate of 1993.

UGB, the investment banking subsidiary of Kuwait Projects Company (Holding) (KIPCO), manages a regional network of investment / asset management companies and commercial banks. Its proprietary investments include assets in real estate, telecommunications, private equity, structured products and quoted securities. Assets under management exceed US$ 5.6 billion. UGB's core subsidiaries and associates include: Algeria Gulf Bank, Al-Dhiyafa Investment Company, Bank of Baghdad, Jordan Kuwait Bank, KIPCO Asset Management Company (KAMCO), Manafae Investment Company, Tunis International Bank, United Gulf Bank Securities Company, United Cable Company, United Industries Company, United Real Estate Company, United Medical Services Company, United Gulf Financial Services Company, Syria Gulf Bank (under formation) and United Warehousing & Cooling. UGB and its subsidiary KAMCO have a proven track record of successful investment banking activities including corporate finance advisory, new issue placement and underwriting, mergers and acquisitions, bond issuance and investment product structuring and placement.

UGB has a long term investment grade rating by Moody's (Baa3) and Capital Intelligence (BBB+).

KIPCO is an US$ 18 billion enterprise with major activities in financial services, media and telecommunications and a variety of other business sectors across the Middle East and North Africa. The group has substantial ownership interests in a portfolio of some 73 companies operating throughout the region and internationally.