QInvest appoints Tamim Hamad Al-Kuwari as Chief Executive Officer

Mr. Al-Kawari previously served as QInvest'sDeputy CEO. Prior to joining QInvest, Tamim was Goldman Sachs Managing Director and Country Head for Qatar.

Under Mr. Shahbaz's leadership, the Bank expanded its global footprint from the United Kingdom to India with strategic investments in Panmure Gordon and Ambit Holdings. It also expanded with the opening of new offices in Riyadh and Istanbul.

In 2012, QInvest announced a joint venture with EFG Hermes which is pending regulatory approval. Furthermore the Investment Banking business has developed successfully as reflected by QInvest's leading position in YTD 2012 regional league tables across Loans/Financing #1, Sukuks #4 and completed M&A #3.

H.E. Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al-Thani, Chairman of QInvest, stated: "We would like to thank Shahzad for his four and half years of service to QInvest. During his term as CEO, he laid the foundations for a world class investment bank operating under the principals of Sharia'a compliant investments and structures. We are very excited about the continuing growth of Sharia'a finance both in the region and abroad. Now, we hope to finalise the strategic alliance with EFG Hermes businesses and to grow the new joint venture as a model for success in Qatar, Egypt, the region and beyond."

The new joint venture represents an ideal platform to expand the client lists of both QInvest and EFG Hermes by providing a comprehensive suite of brokerage, asset management and investment banking services. The JV plans on maximising the full spectrum of opportunities available in Doha through Qatar's continuing economic growth and contributing to the initiatives in the Qatar National Vision 2030. Combined with EFG Hermes' expertise in the region, the joint venture will offer an established, well capitalised and scalable platform from which we can serve our clients.