The London-based bank, which offers Shariah-compliant services, has appointed new leadership.

Bank of London and The Middle East has appointed Jabra Ghandour as its new chief executive and board member as part of its wealth management growth drive. The appointment comes just six months after his predecessor took the helm. 

Ghandour, who has 30 years of industry experience, joined BLME late last year. He previously spent 13 years at the National Bank of Kuwait Group, latterly as managing director and board member at the International Bank of Qatar.

He will assume his new role on 25 March, succeeding Michael Williams, who became CEO in September after having held the position on an interim basis since May. Williams will resume his previous role as non-executive director on the board.

“We will be growing our wealth management products and services substantially in order to serve better our clients in the Gulf alongside our established and expert corporate banking offering to the UK mid-market,” Ghandour said.

Earlier this month, the bank, which was founded a decade ago, reported a net operating loss of $12.4 million for 2015, attributing this to falling global oil prices and legacy issues. 

Following a strategic review last year, BLME restructured its corporate banking offering and refined its focus on its wealth management business, for which it will be rolling out a range of products over the course of this year.