Arabian Business Power 500 2013
Thu 21 Mar 2013 10:28 AM
Michel Accad
229

Michel Accad

Industry: Banking & Finance

Company: Gulf Bank

Designation: CEO

Country: Kuwait (Lebanon)

Accad has been “turning around” Gulf Bank since it lost its entire capital, worth nearly $1bn, during 2008-09 and was partially bailed out by the Kuwaiti investment authority, which became a 16 percent shareholder.

Since then, the Kuwait-based institution has recorded consistent profits while ensuring it is one of the most efficient financial institutions in the Gulf.

Established in 1960 it is the fourth-largest in the emirate, according to market value, and has a network of 51 branches.