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Global Investment House approves new organisational structure

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Kuwait-based investment manager and brokerage firm Global Investment House has announced the new organisation structure that was approved by the board of directors as part of the compan

Kuwait-based investment manager and brokerage firm Global Investment House has announced the new organisation structure that was approved by the board of directors as part of the company’s long-term strategy.

Maha Al-Ghunaim, chairperson and managing director at Global (pictured), says the new structure supports the plan Global had presented to the banks as part of the company’s restructuring process.

The change aims to enhance the company’s corporate governance while focusing more on offering products and services to clients in addition to improving the overall decision making process.

Bader Al-Sumait has been appointed chief executive officer of Global Kuwait, to whom all the business groups will be reporting to.

Omar El-Quqa has been appointed adviser to Al-Ghunaim. He will also be a member of numerous strategic committees.

The chief executives of all Global branch offices, in addition to legal affairs, group risk management and compliance departments will all report directly to Al Ghunaim.

The new organisational structure is one of the many steps Global has recently taken such as reducing its operational costs and improving its business model.

Global had recently announced in a joint press release with the banks’ Steering Committee that significant progress has been made towards the restructuring of the company’s indebtedness.

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