Gulf Finance House s CEO Quits

MANAMA - Bahrain's Gulf Finance House, or GFH, said on Wednesday Chief Executive Ahmed Fahour had quit after just five months, a setback for the loss-making bank's efforts to restructure and find new revenue streams.

  • PUBLISHED: Thu 24 Dec 2009, 11:41 PM UPDATED: Thu 2 Apr 2015, 3:49 AM
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GFH said in a statement Fahour had been appointed by the Australian government as managing director at Australia Post and current Group Deputy Chief Executive Ted Pretty had been appointed acting CEO.

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“It was a surprise, and sudden,” Pretty told Reuters in a phone interview.

Fahour was appointed chief executive in late July and oversaw a $300 million rights issue in October, and GFH is now planning to build new revenue streams in asset management, investment and commercial banking.