UGB appoints Lalani ACEO

DT News Network

Manama 

United Gulf Bank BSC has announced the appointment of Hussain Lalani as its Acting Chief Executive Officer (ACEO). Lalani, currently the Chief Financial Officer of UGB, has been with the Bank since 2002.   He has worked extensively in providing strategic support to the Board of Directors and to other subsidiaries of UGB.    In 2012, he was given further responsibilities of being the Head of the Information Technology, Administration and Human Resources Department.   

He is a Board Member of Takaud Savings & Pensions BSC (c), Bahrain and Global Banking Corporation, Bahrain.  A Chartered Accountant, a Bachelor of Commerce degree holder and a Certified Information Systems Auditor, Lalani was previously employed by Ernst & Young (Bahrain) and PriceWaterhouse Coopers (Pakistan).

UGB’s Chairman and CEO of the KIPCO Banking group, Masaud Hayat, said: “On behalf of Board of Directors, I would like to thank Rabih Soukarieh, the departing CEO, for leading UGB over the last three years and playing a pivotal role in the Bank’s reorganization which resulted in substantial asset growth, improved liquidity and revenue profile. Soukarieh will continue with the KIPCO Banking Group in another leadership position and we will benefit from his extensive experience and expertise.”

Lalani said: “I am delighted to be given the opportunity to lead UGB and the trust bestowed on me by the Board. The Bank has a strong regional network and has a footprint in the MENA region. I look forward to working closely with the UGB Board, further enhancing our capabilities in asset management, commercial and investment banking with the support of the regulators, the management team and employees of UGB.”