Musical chairs at Al Hilal Bank and Qatar First Bank

Abu Dhabi’s Al Hilal Bank has appointed Alex Coelho as its new chief executive officer. He will be responsible for reinforcing the Al Hilal Bank’s position in the UAE and Kazakhstan.

Before joining Al Hilal Bank, Coelho assumed leadership roles between the Middle East and New York, and co-led global financial institutions coverage in the US, Canada, Latin America, Asia and Europe.

Meanwhile Qatar First Bank has appointed Khaled Abdullah al-Khoori as its new acting chief executive, pending regulatory approvals and following on from the resignation of chief executive Ziad Makkawi.

Prior to this appointment, al-Khoori was the chief executive of Al Hilal Bank.

Before joining Al Hilal Bank, he played numerous key roles at the Abu Dhabi Investment Authority as he was the director of real estate and infrastructure department, managing the firm’s strategic global relationships and investment.

Makkawi was the bank’s chief executive from June 2015 until his departure this month. Qatar First Bank recently announced it lost $72.9m in 2016 after some of the bank’s investments were revised downward. Makkawi is quoted as saying that global political and economic conditions negatively affected the company’s markets, resulting in a decline in overall profitability.

 

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