Sharjah’s state-owned Invest Bank has appointed a corporate and investment banker with three decades of experience as its new chief executive officer (CEO). 

Ahmad Abu Eideh, who previously worked with United Arab Bank, ABN AMRO, HSBC and Standard Chartered, has been named to the position to establish a “new growth phase” and “execute the strategic plan” of the company, Invest Bank said in a filing to the Abu Dhabi Securities Exchange (ADX) on Monday. 

Established in 1975 as a public shareholding company, the bank has 3.3 billion dirhams ($898.4 million) in share capital. 

In a statement, Sheikh Sultan Bin Ahmed Al Qasimi, Deputy Ruler of Sharjah and Chairman of Invest Bank, said Abu Eideh has extensive local and regional experience, especially in corporate turnarounds, digital innovation and loan restructurings. 

His previous roles include CEO of Standard Chartered Bank in Jordan and United Arab Bank. 

(Writing by Cleofe Maceda; editing by Daniel Luiz) 

Cleofe.maceda@lseg.com 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2022