Qatar First Bank (QFB), the first independent Shari’ah compliant bank authorized by the QFC Regulatory Authority (QFCRA) announced today the appointment of veteran financial services professional Ziad Makkawi as its Chief Executive Officer with immediate effect.
Ziad has a 27 year track record as an entrepreneur and business builder in the financial services arena where he assumed key leadership positions in banking, investment banking, asset management and private equity. Ziad will lead the expansion of QFB’s already successful Private Equity business, as well as build a Private Banking franchise focused on High and Ultra-High Net Worth individuals.
Ziad spent his early days with JP Morgan on Wall Street. He later joined Elf Aquitaine in Geneva before moving to the Middle East to co-found Lebanon Invest, and then Middle East Capital Group as Managing Director. After moving to Dubai in 2000, Ziad built and ran SHUAA Capital’s financial Services business including asset management, proprietary trading, capital markets, research and brokerage. In 2004 Ziad was appointed CEO of Dubai Bank, and in 2006 founded and ran as Chairman and CEO Algebra Capital a MENA focused Asset Management firm he later sold in 2010 to Global Asset Manager Franklin Templeton.
Prior to joining QFB, Ziad was the CEO of Istithmar World the PE investment arm of Dubai World, a multi-billion dollar global portfolio spanning five continents and many sectors. Ziad also served as a director on numerous boards of leading financial institutions, companies as well as a number of funds.
Abdulla bin Fahad bin Ghorab Al Marri, Chairman of QFB, commented, “QFB is rolling out its strategy of establishing itself as the premier Private Merchant Bank in Qatar, we will continue to build on our successes in the Private Equity area and will build up our Private banking and Investment capabilities to broaden the services we offer our clients and shareholders. We are excited about having Ziad on board to drive this strategy, Ziad brings a depth of experience to this key role and we are confident that someone of his calibre, experience and talent will lead the team and grow the Bank to new heights”.