NCB group CEO to step down

Published March 23rd, 2010 - 09:14 GMT

Following a career that spans over twenty three years with the NCB group. Ahmed Farid AlAulaqi will resign as CEO.  Jawdat Al-Halabi appointed as the successor, will relinquish his role as head of Wealth and Asset Management and assume his new position as Chief Executive Officer starting May 1, 2010.
"After 23 years in the in NCB Group, I reluctantly decided to leave for personal reasons," said Ahmed Farid. "While leaving NCB C is difficult, I leave knowing that the firm is in great hands and believe that we are positioned to deliver against our strategic goals. Jawdat Al-Halabi is a superb leader; over the past 16 months, he has contributed to NCB Capital's vision and has been instrumental in keeping our pace with meeting business objectives. I am confident that Jawdat will build our momentum and help ensure our progress, making this a successful transition for our employees, customers and shareholders."
"Ahmed Farid's vision and industry expertise were fundamental in building NCB Capital and we are very appreciative of his leadership and significant contributions. Although he will be greatly missed, his best achievement is that he leaves behind a competent management team that is capable and ready to take the firm to next level. I am very confident that Jawdat Al-Halabi will be be able to lead NCB Capital to new heights. " Said Chairman, Abdulkareem Abu AlNasr.
Newly appointed CEO, Jawdat Al-Halabi, joined NCB Capital in 2008 as Head of Wealth and Asset Management.  He joined the firm from Arab Bank, where he had  been the Global Head of Private Banking and the CEO of its investment banking arm in Jordan .  In addition to his previous experience at Saudi American Bank and Saudi Hollandi Bank, Jawdat was the Head of Private Banking at National Commercial Bank a few years ago.  

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