First Energy Bank strengthens senior management team with appointment of two Deputy CEOs

Published October 20th, 2008 - 09:44 GMT

First Energy Bank strengthens senior management team with appointment of two Deputy CEOs

First Energy Bank (FEB), the world’s first  Islamic investment bank focused exclusively on the energy sector, has named Mohamed Shukri Ghanem as Deputy CEO – Chief Investment and Business Development Officer and Mohammed Al Nusuf as Deputy CEO – Chief Placement Officer. The appointments will further strengthen the bank’s leadership team, and will ensure that FEB has the breadth of experience necessary to achieve the bank’s strategic objectives in the future.

Announcing these key appointments, FEB Chairman Mr. Esam Y. Janahi said: “Both Mohamed Ghanem and Mohammed Al Nusuf are fully immersed in the region’s economies, and have a comprehensive understanding of the world’s energy markets.

“I am confident that together they will make an immensely positive contribution to FEB’s future and development as the world’s first specialist energy bank.”

Mohamed Ghanem comes to FEB from the Arab Banking Corporation (ABC) where he was the Lead Advisor for a number of Private and Public entities. While at ABC he was responsible for the development and origination of advisory assignments throughout North Africa for the corporation, covering the oil, oil field, natural gas and power generation segments of the energy market. He brings to FEB extensive experience in the regional financing market and in global energy issues.

Commenting on his new role Mr. Ghanem said: “By focusing on energy commodities, energy development and the energy market as a whole, we are creating a bank that aims to be the leader in its field. The importance of energy to the regional and global economy is enormous and I look forward to using my knowledge and experience to helping FEB grow and develop its unique offering.”

Mohammed Al Nusuf joins FEB from Gulf Finance House (GFH) where he was Senior Executive Director (Regional Head) of Placement for the UAE, Oman and Yemen Market and responsible for the marketing and product placement for GFH’s diverse client base of high net worth individuals, family-owned conglomerates and financial institutions based throughout the MENA region.

He has also held prominent positions for the past decade in a variety of financial firms based in Bahrain and the wider Gulf region including ABC Islamic Bank and National Bank of Bahrain. He brings to FEB significant experience in the structuring of Islamic financial transactions and in the arrangement of syndications between some of the region’s largest and most reputable financial institutions..

Mohamed Al Nusuf said” “FEB represents a unique investment entity backed by years of experience and considerable capital focusing its attention solely on the energy sector to the benefit of its shareholders. I am very proud to be part of helping to create and develop a unique banking institution dedicated to the energy sector that is so important to the future economic development of our region.”

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