New leadership at Global Investment House

Kuwait-based asset manager and investment bank Global Investment House has named a new chairman and acting chief executive.

Abdul wahab Al-Halabi will act as chief executive following the retirements of group chief executive Maha Al-Ghunaim and chief executive Bader Al-Sumait.

Meanwhile, Hareb Al-Darmaki will become chairman following the death of former chairman Hisham Al-Otaibi.

Al-Darmaki said the outgoing executives had “reported profitability in a challenging environment, strengthened the management team and repositioned Global as a major player in the region”.

Al-Sumait will now join the board, subject to regulatory approval. The company said the leadership changes were in line with succession plans.

©2017 funds global mena

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