MANAMA: Gulf Finance House (GFH) has announced a new organisational structure to align with its business strategy effective setting up two divisions within the organisation.
This structure will support a rejuvenated business model designed to catalyse a new period of growth and achieve GFH's emergence as the world's leading player in the provision of Islamic finance.
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.
"This is a very significant moment in the proud history of GFH," said group chief executive officer Ahmed Fahour.
"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 join us as chief executive officer of the investment management division of the GFH banking business.
"Salah Rahimi has been appointed as the chief executive officer of the real estate and infrastructure business. These appointments alongside the broader management team are critical to the future success of the bank."
The bank has made a number of internal promotions with the post of group chief operating officer going to John Wright.
The new group chief financial officer is Chandan Gupta, group head of strategy and marketing will be Jinesh Patel, while the head of group risk operations has been awarded to Essa Maseeh.