Home / Qatar / Qatar’s Barwa Bank names Subeai as behaving CEO

Qatar’s Barwa Bank names Subeai as behaving CEO

DUBAI, Mar 9 (Reuters) – Qatar’s Barwa Bank pronounced on Sunday
it had allocated Khalid Yousef al-Subeai as behaving chief
executive officer, a latest instance of internal bankers being
moved into tip jobs in a Gulf Arab state.

The appointment of Subeai, effective from Sunday, was “a
very transparent matter as to a joining to Qatarisation and
the course of Qatari talent during all levels via the
organisation,” according to a matter from a lender.

Steve Troop, a prior CEO, will turn confidant to the
chairman and a house of directors, a matter said.

Subeai was formerly CEO of The First Investor, Barwa’s
wholly-owned investment banking unit. Before that role, that he
assumed in Jan 2013, he was CEO of Morgan Stanley’s
Qatari operations.

Sharia-compliant Barwa is a latest lender in Qatar to
appoint a internal landowner as a conduct and keep a expatriate
incumbent in a apart role.

In August, Commercial Bank of Qatar named Abdulla
Saleh al-Raisi as CEO, with Andrew Stevens relocating to organisation CEO
with shortcoming for a bank’s abroad operations.

Barwa has been formulation to go open for some time, with
Troop revelation Reuters final Apr it would offer 50 million
shares to a open during 21 riyals per share as one partial of a
2.05 billion riyal share sale routine – tentative capitulation by the
local regulator.

Barwa Bank, that is near-50 percent owned by government
funds after a categorical shareholder divested a interest as partial of a
bailout effort, had resources value 28.65 billion riyals ($7.87
billion) as of September, according to a website.

($1 = 3.6415 Qatar riyals)

(Reporting by David French; Editing by Alistair Lyon)

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