Mr. Hassan Juma, President & Chief Executive of ABC

Manama, Bahrain: Arab Banking Corporation (ABC), today announced that Mr. Hassan Ali Juma, is retiring as the President & Chief Executive of ABC effective July 2013.  Mr. Juma has been the President & Chief Executive of ABC since 1 April 2008.

The Board of Directors praised the contribution of Mr. Juma in leading ABC out of the financial crisis of 2008, and the role he played in achieving four successive years of strong profitability, strengthening the balance sheet and funding position of ABC, and stabilizing the Bank at a time of unusual unrest in a number of its core markets. A Board search campaign will now commence to identify a suitably qualified candidate to take over from Mr. Juma upon his retirement.

Following the Annual General Meeting of ABC scheduled for end of March 2013, Mr. Hassan Juma will gradually hand over his day-to-day management responsibilities to Dr. Khaled Kawan, ABC’s Group Deputy Chief Executive in order to ensure a smooth transition and continuity until a permanent replacement is appointed. ABC is fortunate to have a strong management team with the skills and experiences to continue to carry out its objectives.

Mr. Hassan Juma, President & Chief Executive of ABC, said, “I would like to thank the Board and all other ABC stakeholders for the support that they have shown me and ABC during my time as President & Chief Executive and would hope that the same support will be shown to my successor. I have been associated with ABC since 1994 when I joined ABC’s Board as an independent director and, since 2008, as President & Chief Executive.  During this time, ABC has been very profitable and successfully navigated a number of tumultuous events, including the international financial/banking crisis and the Arab Spring, and I believe that this is due to the strong management team that ABC has developed over recent years.  I look forward to continuing to work with the ABC Board and my colleagues in ABC’s senior management during this interim to ensure a smooth and efficient transition period for our stakeholders.  After a brief break, I look forward to exploring new opportunities and pursuing other endeavours.”