Kuwait City, June 7th, 2012
KAMCO – KIPCO Asset Management Company, announced the appointment of Mr. Faisal Sarkhou as the new Acting Chief Executive Officer upon the board's approval of outgoing Managing Director and CEO, Sadoun Ali's resignation.
"I am honoured to be appointed as Acting CEO to such a prestigious company. Despite a challenging climate facing the investment sector, KAMCO is a company with a proven track record of achievements..."
KAMCO's Chairman, Shaikh Abdullah Al Nasser Al Sabah, said: On behalf of myself and all the Directors of the Board, I would like to start by personally thanking Mr. Sadoun for his years of dedicated service, and pay tribute to his major contribution to the stability of the company in the midst of very difficult economic circumstances. I would also like to extend my best wishes to Mr. Ali on his new job within the Group as he is a dear friend, confidant and can continue to count on our support in the future.
"I would also like to congratulate Mr. Sarkhou on his successful rise to the summit of our company. His hard work, dedication, and business-acumen have contributed to the growth and stability of KAMCO during challenging times. I am confident in his abilities to steer us into an even brighter future."
Mr. Sarkhou also commented saying, "I am honoured to be appointed as Acting CEO to such a prestigious company. Despite a challenging climate facing the investment sector, KAMCO is a company with a proven track record of achievements, carrying with it a wealth of accumulated experience, and is supported by a specialized team of capable and knowledgeable colleagues. I will trust in them as I ask them to trust in me to enhance and secure KAMCO's place among the region's premier investment houses. With the trust bestowed on me and the support from our shareholders, board of directors, and my team of colleagues, I am delighted to be given the opportunity to lead KAMCO and to accomplish our mutual future goals."
Mr. Sarkhou joined the Corporate Finance Department in KAMCO in 2000, after working at KPMG in Kuwait. His last promotion was in 2010 where he was appointed Head of the Financial Services and Investment Division at KAMCO. Mr. Sarkhou has a history of rich experience and track record of achievements in investment banking, financial products and financial services in general. He serves as a board member on several reputable companies. He also sits on a number of company and investment management committees. He is an Economics graduate from the University of Birmingham, UK.
This press release has been issued by KAMCO Research in 2012.