ithmaar bank appoints mr. kenneth c. borda as member of the board
Ithmaar Bank, a leading publicly quoted investment bank based in Bahrain, announced the appointment of Mr. Kenneth C. Borda, an international investment banker, to its Board of Directors.
The decision, made at the Annual General Meeting held in Bahrain presided over by Chairman Khalid Abdulla-Janahi, , strengthens the Bankbody’s depth of experience.
Borda, 54, brings with him a wealth of knowledge and expertise in a wide range of business areas. He is currently Chief Executive Officer of Deutsche Bank, Middle East and North Africa. He has also acted as Chairman of Asia Pacific (excluding Japan). During an 18 year career with the Bank, he has held a number of key management posts, including Regional CEO Asia Pacific, based in Hong Kong, and CEO Australia and New Zealand, based in Sydney.
“Kenneth’s rich experience within the banking industry, across several different markets, makes him an ideal choice for a position on our Board. Ithmaar Bank always seeks to maintain the highest standards of corporate governance, and this kind kind of experience and know-how is very hard to come by,” said Mr. Janahi,
“In addition, Kenneth also has a strong background in the legal side of the banking industry, which will undoubtedly contribute to further enhancing the Bank’s governance and development. We are extremely pleased to welcome Kenneth onboard and are confident that his input will prove invaluable to achieving our plans for the future,” he added.
Mr. Borda’s expertise is regularly called upon by major institutions making important policy decisions. He was a Board Member of SFE Corporation (the listed national futures exchange in Australia) for more than five years until its acquisition by Australian Stock Exchange Limited in July 2006. In February 2007, he joined the boards of both Fullerton Funds Management, the asset management arm of Temasek, in Singapore, and Australian oil and gas exploration and production company Santos Limited.
“I am grateful for the confidence and trust that the shareholders of Ithmaar Bank have shown in me, and I look forward to working with Khalid and my fellow Board Members in shaping the future of this institution,” said Mr. Borda.
About Ithmaar Bank
Ithmaar Bank B.S.C. is a 22-year-old bank licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange.
Ithmaar Bank, which has a paid-up capital of US$360 million, is a full service investment bank, with operations covering the Middle East and North Africa (MENA) region, as well as South Asia, Asia-Pacific and Europe. Besides holding significant investments in the banking, financial services and real estate sectors in different markets, the main activities of the Bank include underwriting business (equity and other financings), private equity (structuring, participation and portfolio management), project financing, and advisory business (capital market, merger & acquisitions and project advisory).
Ithmaar Bank’s flagship companies include Shamil Bank, Solidarity (an Islamic insurance company headquartered in Bahrain); Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan) and Ithmaar Development Company.
The Bank’s shares are listed on the Bahrain Stock Exchange.
For more information on Ithmaar Bank, please visit the Bank’s website on www.ithmaarbank.com