Announcement
After working for thirty five years in the banking industry, Dr. Khaled Al-Fayez has decided to retire. Dr. Al-Fayez established Gulf International Bank (GIB) in 1976 during the early stages of the development of Bahrain as a regional financial centre. Over the years, GIB developed into a US$30 billion institution. H.E. Mr. Jammaz Al-Suhaimi stated that the shareholders and staff of GIB will deeply miss Dr. Al-Fayez, the founder of GIB, and sincerely wished him health and happiness in his well earned retirement years.
The Board of Directors are happy to announce the appointment of Dr. Yahya Al-Yahya to the position of Chief Executive Officer of GIB. Dr. Yahya Al-Yahya, a Saudi national was the Executive Director for Saudi Arabia at the World Bank, Washington, D.C. His previous experience includes being the Director General of the Institute of Banking at the Saudi Arabian Monetary Agency. He has also worked for the private industry. While the world is experiencing challenging times, the Board and Shareholders are confident that Dr. Al-Yahya will meet these challenges with success.
Dr. Al-Yahya will assume his new position at the Bank on 1st January, 2009. He and Dr. Al-Fayez will plan an appropriate amount of time together to achieve an orderly and disciplined transition.
The Board takes this opportunity to thank Dr. Al-Fayez for his efforts and wish him well, and looks forward to working with Dr. Al-Yahya.
