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Gulf Daily News Monday, 17th November 2014
27
GFH unveils new identity
in major push for growth
MANAMA: Gulf Finance
House (GFH) is implementing major changes to its
business strategy as it turns
from being an investment
bank to a financial group.
“To reflect this strategy, we
changed the brand, the logo and
the colours to be in line with
the new plan, and to reflect our
ambitions,” GFH chairman Dr
Ahmed Al Mutawa said.
He said at the launch of the
bank’s new identity that these
changes are much deeper than
just a simple change of the
logo, as they also reflect the
new owners, shareholders base
and the new management team,
noting that the new name for
the group will be (gfh).
Dr Al Mutawa said that the
group carried out a deep and
diligent change plan, which is
reflected in the new brand that
will be in line with the coming
era.
He said that the new group
will include commercial banks,
financial institutions, asset
management, wealth management, real estate development
corporations as well as industrial companies.
Dr Al Mutawa said the bank
will be characterised by the
provision of valuable investment services that create a
strong relationship with the
bank’s clients and create outstanding values for its shareholders. He also noted that the
new management of the bank
has completed its preparations
to commence a new chapter in
the success story of GFH.
Chief executive Hisham Al
Rayes said that this event is to
mark a new era in the history
of GFH’s new business model.
Accordingly, it was necessary to have a new identity
through which we confirm
n Bahrain Kuwait Insurance
Company (BKIC), as part
of its commitment to train
and provide senior posts
to Bahrainis, has promoted
Wedad Al Wazzan, above, to the
position of senior supervisor at
personal line insurance centre.
The management of BKIC
congratulated Ms Al Wazzan
on her new responsibilities.
to the owners and shareholders that the bank is different
and that we are serious about
achieving their aspirations.
“The bank follows a new
strategy and today we are not
only launching a new identity, but also launching this
new strategy and a promising
future for the shareholders and
investors.
“The new identity is not just
a new brand or colours, but it
goes much beyond that, as we
are trying to create a new personality and a new culture to
the bank, ensuring high quality,
credibility in dealing and intelligence in investment.”
Mr Al Rayes said we have
been working on turning the
bank from an investment institution to a financial group, as
we intend to acquire significant financial institutions in the
region during the next phase
to achieve the new strategy of
the bank, which aims at creating a full range of financial,
commercial and investment
banking services in the region
in preparation for spreading
globally.
“The new strategy will
ensure the continuity of the
bank and its success in all circumstances and worst developments so as not to be vulner-
able to financial crises at any
time. Additionally, through this
new strategy the group will be
able to offer the clients a more
broader and comprehensive
services that are not limited to
investments and asset management only
The chief executive stressed
that the implementation of the
new investment strategy will
not be easy and requires a lot
of work and patience, stressing
that we created the basic pillars
of it and the road ahead became
clear.
Based on the new strategy,
the bank will enter into short
and long term investment projects and will not exit from
such investments unless upon
creating high returns to its clients.
“Do I smell freshly baked bread or is that the books cooking.”
www.northstar.bh
n Mr Al Sugair and Mr Al Morished after signing the agreement
Partnership
deal signed
MANAMA: Saudi Telecom
Company (STC) and the GCC
Board Directors Institute (BDI)
yesterday announced their
sponsorship agreement.
“STC, being a socially
responsible organisation, places
great emphasis on sound corporate governance practices,”
STC chairman and managing
director Abdulaziz Al Sugair.
“Transparency,
fairness
practices and effective corporate governance are receiving
significant focus at STC.
“BDI, in the recent years,
have made solid contribution to
the advancement of corporate
governance practices through
capacity building, research and
development.
“We are sure this partnership
will help further the effectiveness of our joint efforts towards
greater emphasis on implementation of international standards in the region,” said Mr Al
Sugair.
This sponsorship is a testament of STC’s recognition
of the important impact sound
corporate governance practices can have on organisations,
societies and economies in the
Gulf.
“It is truly an honour to welcome STC into our esteemed
network,” SABIC chief financial officer and GCC Board
Directors Institute chairman
Mutlaq Al Morished said.
“With this sponsorship
agreement, STC once again
demonstrates thought leadership and its deep understanding of the benefits that sound
corporate governance practices
bring to any organisation.
“Having the support of the
region’s largest telecommunications company will definitely
hone BDI’s efforts to raise the
level of board effectiveness and
corporate governance standards
in the Gulf.” .
Since its inception in 2007,
BDI has established itself as
the pre-eminent organisation in
the Gulf for Boards and directors, and has fostered a network
of more than 15 partners and
sponsors.
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