Bahrain-based GFH Financial Group (GFH) has appointed Jassim Alseddiqi, the managing director and chief executive officer of Abu Dhabi Financial Group (ADFG) - a leading global investment group with over $6 billion under management - as its new chairman.

On his new role, Alseddiqi said: "GFH has performed exceptionally well in the last two years and has returned more than $200 million to its shareholders in the form of dividends, bonus shares and treasury share purchases."

"ADFG strongly supports GFH’s long term growth. I am, therefore, pleased to assume the chairmanship of the group’s board considering our commitment to GFH and our focus on the expansion of its diverse investment activities," stated the top official.

"2018 is expected to be another strong year for GFH in which we seek to unlock even greater value from its portfolio of financial and infrastructure assets. We also look forward to strengthening the group’s relationship with its key stakeholders," he added.

In another major development, the Group has named Sheikh Ahmed Bin Khalifa Al Khalifa as the chairman of GFH Capital.

In this capacity, he will oversee the further expansion of the group’s investment activities supported by his strong experience and more than two decades serving in senior banking and investment positions.

On the appointment, Sheikh Ahmed said: "This is an exciting time of growth at GFH Capital and I’m pleased to assume the chairmanship of its board. GFH Capital is a well-established platform with a strong track record, and building on the momentum of 2017, we are well poised to enter a new era of expansion."

"This includes plans to effectively increase our transaction capacity both in terms of deal numbers and value as well as to significantly grow our assets under management by further building our base of HNW (high net worth) clients across the GCC," observed Ahmed.

"These activities are central to taking GFH to the next level and I look forward to guiding these efforts in the months ahead," he added.-TradeArabia News Service