BMB Investment Bank announced today the resignation of Albert Kittaneh, its chief executive for the past sixteen years, effective February 15, 2009.

While Kittaneh is leaving BMB to pursue personal interests, he has agreed to remain advisor to the Bank until the end of 2009.  The Board of Directors of the Bank will shortly announce the name of his successor.

“The Board of Directors would like to pay tribute to Kittaneh and the remarkable achievements his tenure has witnessed. He took over the helm of BMB in 1993 under the most difficult of circumstances and implemented a bold new strategic direction, transforming BMB into an innovative and dynamic investment bank. While we are saddened by his resignation as chief executive, we take comfort in his continued association as an advisor of the Bank,” stated the Bank’s chairman, Wilson Benjamin.

Bahrain Middle East Bank (BSC) was established in 1982 and holds a Wholesale Banking License. The Bank’s shares are listed on the Bahrain Stock Exchange under (BMEB.BH) and are held by shareholders primarily across the GCC.-TradeArabia News Service