MANAMA, 21 March 2007 — Ithmaar Bank, a leading publicly quoted investment bank based in Bahrain, announced the appointment of Kenneth C. Borda, an international investment banker, to its board of directors.
The decision, made at the annual general meeting held in Bahrain presided over by Chairman Khalid Abdulla-Janahi, strengthens the bank’s depth of experience.
Borda, 54, brings with him a wealth of knowledge and expertise in a wide range of business areas. He is currently chief executive officer of Deutsche Bank, Middle East and North Africa. He has also acted as chairman of Asia Pacific (excluding Japan). During an 18-year career with the bank, he has held a number of key management posts, including regional CEO Asia Pacific, based in Hong Kong, and CEO Australia and New Zealand, based in Sydney.
“Ken’s rich experience within the banking industry, across several different markets, makes him an ideal choice for a position on our board. Ithmaar Bank always seeks to maintain the highest standards of corporate governance, and this kind of experience and know-how is very hard to come by,” Janahi said.
“In addition, Ken also has a strong background, which will contribute to further enhancing the bank’s governance and development. We are extremely pleased to welcome Ken onboard and are confident that his input will prove invaluable to achieving our plans for the future.” he added.
Borda’s expertise is regularly called upon by major institutions. He was a board member of SFE Corporation (the listed national futures exchange in Australia) for more than five years until its acquisition by Australian Stock Exchange Limited in July 2006.
In February 2007, he joined the boards of both Fullerton Funds Management, the asset management arm of Temasek, in Singapore, and Australian oil and gas exploration and production company Santos Limited.