Bahrain's GFH announces major shake-up

Gulf Finance House (GFH), a leading Bahrain-based Islamic investment bank on Monday announced it was restructuring the company "to align with its business strategy".

GFH, which specialises in developing and arranging financing for large real estate and infrastructure projects, said the move to split the firm into two specific businesses was designed to "catalyze a new period of growth".

The new model comprises two specific businesses - GFH Real Estate and Infrastructure and GFH banking which will comprise three business units including Investment Management, Investment Banking and Islamic Commercial Banking.

GFH Group CEO Ahmed Fahour said: "This is a very significant moment in the proud history of GFH. Our new adapted business model will allow us to extract maximum value from our existing initiatives while establishing a refined GFH banking operation that delivers world class Islamic financial services."

He said Ted Pretty, a leading investment banker with vast international experience would be joining the company as CEO of the Investment Management division of the GFH banking business while Salah Rahimi has been appointed as the CEO of the Real Estate and Infrastructure business.

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