Bahrain-based Arab Banking Corporation (ABC) has appointed Hassan Ali Juma as president and chief executive of the ABC Group, effective April 1.

He replaces Ghazi M Abdul-Jawad who retires early for health reasons.

ABC board praised Abdul-Jawad for the substantial contribution he made during his 11-year tenure. Under his leadership, ABC witnessed a remarkable strengthening of its financial position, profitability and footprint.

Juma, a Bahraini citizen, is a seasoned banker, and has held a number of leading directorships in the region. He has been the managing director of National Bank of Bahrain for the past two decades. Juma brings a wealth of experience through his past and present associations and experience in the region.

Juma is no stranger to ABC, as his association with the ABC Group started in 1994 when he became a non-executive independent director of its board representing minority shareholders. He has also subsequently served as director of ABC’s flagship subsidiary in London, ABC International Bank.

Mohammed Layas, chairman, said: “While we are sad to see Ghazi retire early for health reasons, we are pleased that Hassan is joining ABC as president and chief executive. He brings the right combination of banking experience, market knowledge and understanding of ABC’s challenges. The board is grateful to Ghazi for the  job well done, and wishes him a speedy recovery.”

Ghazi M Abdul-Jawad remarked: “After more than 25 years spent as chief executive officer at ABC and other prominent regional financial institutions, it is time to step away from heavy demands.  My time at ABC has been challenging, and I enjoyed every moment of it.  ABC made huge strides in recent years, and has paved the way for even better prospects for the future.  I have total confidence in the outstanding senior management team at ABC, under the able hands of my successor, to lead ABC towards greater achievements ahead.”  - TradeArabia News Service