BAHRAIN – UAE – United Gulf Bank (UGB) has confirmed the appointment of Rabih Soukarieh as chief executive of the bank.
Mr Soukarieh has over 20 years of experience in investment and corporate banking and has held various executive positions within the bank and its sister companies over the last 10 years.
He is currently a member of the board and board executive committee of Algeria Gulf Bank, Tunis International Bank, FIM Bank in Malta, Syria Gulf Bank, Bank of Baghdad and North Africa Holdings, Kuwait.
“We are pleased to announce Rabih’s confirmation as the chief executive,” said UGB chairman Masaud Hayat.
“He has been a valued executive of the KIPCO Group for over 10 years and has had a successful track record in all his previous executive assignments,” he added.
“I thank UGB’s board of directors for their trust,” said Mr. Soukarieh.
“In the 18 months since I was appointed in my acting capacity, we have successfully deleveraged our balance sheet, multiplied our net profits, and substantially reduced our operating expenses.
“We have also just completed the first steps of acquiring FIM Bank in Malta.
“We stand on firm footing today towards continued and stronger financial performance in the future,” he added.
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