Qatar First Bank (QFB) has announced today the appointment of veteran financial services professional Ziad Makkawi as its chief executive officer.
QFB, the first independent Shariah-compliant bank authorised by the Qatar Financial Centre Regulatory Authority (QFCRA), said Makkawi’s appointment takes effect immediately.
Makkawi has a 27-year track record as an entrepreneur and business builder in the financial services arena where he assumed key leadership positions in banking, investment banking, asset management, and private equity.
He will lead the expansion of QFB’s private equity business, as well as build a private banking franchise focused on high and ultra-high net worth individuals.
Makkawi spent his early days with JP Morgan on Wall Street. He later joined Elf Aquitaine in Geneva before moving to the Middle East to co-found Lebanon Invest, and then Middle East Capital Group as managing director.
After moving to Dubai in 2000, Makkawi built and ran SHUAA Capital’s financial services business, including asset management, proprietary trading, capital markets, research, and brokerage.
In 2004, Makkawi was appointed CEO of Dubai Bank and in 2006 founded and ran as chairman and CEO Algebra Capital, a Mena-focused asset management firm he later sold in 2010 to global asset manager, Franklin Templeton.
Prior to joining QFB, Makkawi was the CEO of Istithmar World, the investment arm of Dubai World and a multi-billion dollar global portfolio spanning five continents and many sectors. Makkawi also served as a director on numerous boards of leading financial institutions and companies, as well as a number of funds.
QFB chairman Abdulla bin Fahad bin Ghorab al-Marri said, “QFB is rolling out its strategy of establishing itself as the premier private merchant bank in Qatar. We will continue to build on our successes in the private equity area and will build up our private banking and investment capabilities to broaden the services we offer our clients and shareholders.
“We are excited about having Ziad Makkawi on board to drive this strategy. Ziad brings a depth of experience to this key role and we are confident that someone of his calibre, experience, and talent will lead the team and grow the bank to new heights.”
Makkawi: Depth of experience.
