QInvest, the subsidiary investment institution of Qatar Islamic Bank (QIB), has appointed Hussain Abdulla and Hussein Fakhreddine as its new co-chief executives.
Tamim al-Kuwari has resigned as the bank’s chief executive, but will remain in the position for a short period of time to support the transition. He will also continue serving as a board member at QInvest, to further support the bank’s strategy and future growth plans.
Michael Katounas has also resigned as the bank’s deputy chief executive with immediate effect.
“We would like to thank Tamim for his service as chief executive. During his tenure, QInvest witnessed remarkable achievements amidst difficult global financial environment,” said Sheikh Jassim bin Hamad bin Jassim al-Thani, chairman of QInvest. Abdulla and Fakhreddine have more than 22 years of combined experience at QInvest and more than 30 years of professional experience in the financial services industry.
They both bring extensive banking expertise, an expansive local and international network, and deep regional and international knowledge.
The co-chief executives will continue working on strategic transactions across QInvest’s key markets in the Middle East, Turkey, and selected countries around the world, delivering value to the bank’s shareholders and clients.
Abdulla holds a BA in Banking and Financial Studies from University of Qatar, and Fakhreddine received his Master of Science in Finance from the George Washington University in Washington DC and the American University of Beirut in Lebanon.