Gulf Finance House, the leading Middle Eastern Islamic investment bank today announced a new organizational structure to align with its business strategy. This structure will support a rejuvenated business model designed to catalyze a new period of growth and facilitate GFH’s emergence as the world’s leading player in the provision of Islamic finance. The model comprises two specific businesses; the first, GFH Real Estate and Infrastructure will house existing Energy City and Financial Harbour Initiatives and further real estate interests and projects. The second business, GFH banking will comprise three business units including Investment Management, Investment Banking and Islamic Commercial Banking.
To coincide with the launch of their adapted business model, GFH Group CEO Ahmed Fahour commented today saying, “This is a very significant moment in the proud history of GFH. Our new adapted business model will allow us to extract maximum value from our existing initiatives while establishing a refined GFH banking operation that delivers world class Islamic financial services.”
“I’m also delighted that Ted Pretty, a leading investment banker with vast international experience will be joining us as CEO of the Investment Management division of the GFH banking business. This important business will comprise our existing Venture Capital, Private Equity and Asset Management businesses as well as our investments in our financial institutions. In addition, I’m pleased to say that Salah Rahimi has been appointed as the CEO of the Real Estate and Infrastructure business. These appointments alongside the broader management team we’re outlining today are critical to the future success of the bank.”
Commenting further on the appointment of Ted Pretty, Mr. Fahour added, “Ted brings a vast amount of transactional experience with him and a depth of skills and relationships that will be of huge benefit to GFH. We’re delighted he’s on board and I look forward to the benefit of his wise counsel as we set about building GFH into the global Islamic investment bank.”
Mr. Fahour also took time to pay tribute to departing Deputy-CEO Mehran Jamsheer saying, “I would like to thank Mehran for his years of dedicated service at GFH. He has been a major contributor to the growth and success of the bank and we wish him and his family well in all their future pursuits.”
To coincide with the launch of the new business plan, GFH also announced a number of internal promotions into the corporate centre including:
• Group Chief Operating Officer: John Wright
• Group Chief Financial Officer: Chandan Gupta
• Group Head of Strategy & Marketing: Jinesh Patel
• Head of Group Risk Operations: Essa Maseeh
