Gulf Bank names new CEO
Dubai, March 18, 2014
Kuwait's Gulf Bank said it has appointed Cesar Gonzalez-Bueno as chief executive, replacing Michel Accad who resigned in October last year.
The appointment of Gonzalez-Bueno, former CEO of Spain's Novagalicia Banco, was effective as of March 16, the bank said in a statement.
Gonzalez-Bueno, a Spaniard who also previously worked as regional head at Dutch financial services group ING, as well as for management consultancy McKinsey, "will add new energy and dynamism to the bank's growth," Gulf Bank said.
The bank, Kuwait's fourth-largest, also reported a four per cent rise in 2013 net profit to KD32.16 million ($113.9 million).
Former CEO Accad had resigned from his post for personal reasons, one of a series of recent CEO departures at banks in the region.
National Bank of Kuwait's long-serving CEO announced his resignation in December and his replacement took over earlier this month.
Last year National Bank of Abu Dhabi, Qatar National Bank and Dubai's Emirates NBD all announced new heads. - Reuters