Gulf Finance House appoints Bahraini banker Hisham Alrayes as Acting Chief Executive Office

Press release
Published April 17th, 2012 - 11:28 GMT

Gulf Finance House BSC (GFH or the Bank), the Bahrain-based Islamic investment bank, today announced the appointment of Hisham Alrayes to the position of Acting Chief Executive Officer. Mr Alrayes is currently the Chief Investment Officer at GFH and will take up his new position with immediate effect.

In his new position, Mr. Alrayes will be responsible for overlooking the overall performance of the bank, setting the bank’s strategic direction, management of the bank’s assets and liabilities, and managing the communications with shareholders.   His responsibilities will also include the bank’s direct operations, subsidiaries and investments under management.

Commenting on the appointment Mr Esam Janahi, Chairman of GFH said: “Hisham has been with Gulf Finance House in a number of capacities over the years, and has proven himself to be a key player throughout this time, contributing positively both during the economic boom and the financial recession.  He was actively involved in the Bank’s restructuring process, especially with the restructuring of the bank’s debts and in driving the bank back to profitability. I am confident that his credentials, knowledge and investor experience will enable him to continue to create significant shareholder value and profitability for the bank going forward.”

Acting Chief Executive Officer, Hisham Alrayes said: “I would like to thank the Board of Directors for the trust and confidence they have extended to me with this appointment. This year, our objective at GFH is to focus on sustainable business growth through developing and extracting additional value from our current projects and assets, generating returns for shareholders while protecting their investments and ensuring stability with continuous business growth. This will help facilitate steady sources of income for all our stakeholders.

I am very excited about the prospects for GFH going forward and am determined to strengthen our different lines of business by extending our capabilities to the regional and international markets. I would also like to extend my sincere thanks to the Central Bank of Bahrain for their continuous support, which has proved invaluable,” he added.

Mr Alrayes joined Gulf Finance House in May 2007, and holds a Master in Business Administration from University of DePaul - Charles H. Kellstadt Graduate School of Business, Chicago, USA. In addition to his role as Action CEO of GFH, Mr. Alrayes is currently Chairman of Cemena Holding Company, Gulf Holding Company and Bashaer Fund.

Background Information

Gulf Finance House

GFH is a well renowned financial group in the GCC region, with a diversified offering and pioneering track record. Headquartered in Bahrain, GFH’s innovative approach to Islamic investment banking services has been recognised internationally for over a decade. GFH has developed a strong and consistent ability to identify, successfully bring to market and capitalise on a wide range of solid investment opportunities in some of the world’s most dynamic markets and sectors. This approach signifies the Group’s investment insights and commitment to increase the value of its assets, and financial returns to its investors and shareholders.

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