Michael Williams becomes chief of BLME

Chairmans roomThe Bank of London and the Middle East (BLME) has promoted Michael Williams to chief executive from the position of acting chief executive that he assumed in May.

Humphrey Percy, who had been chief executive since August 2006, stood down from the firm in June.

Williams, who was previously a non-executive director on the bank’s board, has also served as chief executive of the International Bank of Qatar and the National Bank of Fujairah. In addition, he has worked as a managing director at Nomura Bank International and Barclays Global Services.

Adel Al Majed, chairman of BLME Holdings, says Williams will strengthen distribution in the Gulf region and develop the firm’s asset management products.

“His appointment will ensure continuity for BLME as he works with senior management to implement the strategic initiatives developed over the past three months,” says Al Majed.

Separately, the bank says its chief financial officer, Richard Williams, will step down in 2016. The bank is currently recruiting a replacement.

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