Kamco, the Kuwait-based investment manager and research house, has published some excellent reports on the performance of GCC capital markets during 2108. Our Editor has summarised the key point with some tables, and provides links to the original reports for those who would like more details.
Changes to CEOs of Arab banks in London
Rakan Tarwaneh has been appointed CEO of Jordan Islamic Bank, the London-icorporated bank that is owned by the Housing Bank of Jordan (75%) and Arab Jordan Investment Bank (25%). He was previously Deputy CEO and has been Acting CEOsince the departure of Mort Mirghavameddin last spring.
Dickon Johnstone has been appointed to replace Farid Barakat as CEO of the London branch of National Bank of Abu Dhabi. Since mid-2015, Mr. Johnstone had been COO of the London branch and head of NBAD's staff in Europe and the Americas. Before that, he worked for the bank in Abu Dhabi as Executive Director, Chief of Staff, Global Wealth. Earlier this year, National Bank of Abu Dhabi merged with another Abu Dhabi-based bank, First Gulf Bank, to create First Abu Dhabi Bank. The bank's London operations are still conducted under the National Bank of Abu Dhabi legal entity. Mr. Johnstone's first name, Dickon, is spelt correctly.
Sami Tamim has been appointed CEO of Ahli United Bank UK. He was previously Deputy CEO and has been acting CEO since the departure of James Foster. His previous experience includes time with UBS and with Citibank. Ahli United Bank UK is owned by Bahrain-based Ahli United Bank.
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Our editor analyses the two banks and has compiled a table of figures that compares their size, profitability and other features.
APICORP, the Dammam-based energy investment bank, is predicting oil prices of around $60-70/b during 2019, but, in an excellent overview of market conditions, warns that many different factors will play a role in setting actual prices.
The Directors and staff of the Arab Bankers Association send best wishes for 2019 to our members and their families.
Haytham Kamhiyah has been appointed CEO of Europe Arab Bank, the London-based subsidiary of Jordan's Arab Bank.