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United Gulf Bank appoints Acting Chief Executive Officer.

Bahrain-based United Gulf Bank has appointed Rabih Soukarieh as the new Acting Chief Executive Officer (ACEO) following the retirement request of the present incumbent, Mohammed Haroon, effective 6 March, 2012.

Soukarieh, the Head of Asset Management and Investment Banking at UGB, has worked extensively, over the past twenty one years, in Canada, Kuwait, Saudi Arabia, Dubai and Qatar. Prior to re-joining UGB in 2009, he held senior operating positions in KIPCO Group Companies including Chief Executive Officer, United Gulf Financial Services Company, Qatar and Group Chief Financial Officer, Wataniya International FZ LLC. He initially joined the bank in January, 2003 as Vice President, Corporate Finance. He is a director of several UGB subsidiaries and associates. Soukarieh is a Chartered Financial Analyst and holds a M.B.A. from Northeastern University, Boston and a B.Sc. in Finance from Indiana University, Bloomington.

UGB Chairman, Masaud Hayat, said, "On behalf of Board of Directors, I would like to pay tribute to Mr Haroon's major contribution to the business growth and strategic development of UGB. We thank Mr. Haroon for his dedicated commitment to the bank over the past thirty years. We are delighted that he has agreed to continue as the Advisor and Secretary to the Board of Directors so the bank will continue to benefit from his unique experience and expertise.

"We are also delighted to announce the appointment of Mr. Soukarieh as the new Acting Chief Executive Officer. His strong decision making skills supported by hands-on approach to management, good professional judgement, thorough analytical abilities and in depth negotiation skills, put him in an ideal position to lead UGB. His vast knowledge of credit and capital markets will enable him to continue UGB's track record of creating shareholder value and profitability."

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Publication:CPI Financial
Date:Mar 8, 2012
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