Geneva based Faisal Private Bank appoints new CEO

Geneva based Faisal Private Bank said on Wednesday it had appointed Swiss national Mark Koch to replace outgoing chief executive officer Marco Rochat from January 1 with a mandate to broaden the Islamic finance focus of the bank.Rochat had said on Tuesday he had resigned the chief executive role at Faisal, a subsidiary of Bahrain listed Ithmaar Bank, for personal reasons.

Two days ago, Ithmaar's board of directors had said it had replaced chairman Khalid Abdulla Janahi with Amr Mohammed al Faisal.

Faisal said in a statement that Koch had been given charge of broadening the focus of the bank beyond wealth and asset management based on Islamic principles to Islamic trade finance and asset management.

(REUTERS)