Unicorn names interim CEO after Al Refai departure

Unicorn confirms exit of CEO Majid Al Refai; appoints Ikbal Daredia as interim chief exec.
Unicorn names interim CEO after Al Refai departure
BAHRAINI BANK: Bahraini investment bank Unicorn confirmed on Tuesday that Chief Executive Majid Al Refai has left the bank. (Getty Images)
By Frederik Richter
Tue 03 Aug 2010 02:15 PM

Bahraini investment bank Unicorn confirmed on Tuesday that Chief Executive Majid Al Refai has left the bank and said it appointed Ikbal Daredia as interim chief executive.

Daredia is the bank's head of capital markets, institutional banking and treasury and will act as interim CEO with immediate effect, Unicorn said in a statement sent to Reuters on Tuesday.

The bank did not provide a reason for the departure of Al-Refai, who sources said left due to a conflict with the board over the bank's strategy.

The sources said the board had demanded more focus on Saudi Arabia for Unicorn that under Al Refai sought to become an international Islamic financial services group with a presence including in the United States, Malaysia and Turkey. (Reuters)

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