Standard Chartered announced today the appointment of Ahmed Muallah as Managing Director and Head of its Wholesale Banking business in Iraq. In his role, Ahmed will be leading the Bank’s Wholesale Banking business and will be based in Baghdad reporting to Tarek Anwar, Co-Head of Wholesale Banking and Regional Head of Client Coverage for Middle East North Africa and Pakistan.
Commenting on the appointment, Gavin Wishart, Chief Executive Officer, Standard Chartered Iraq said:
“This appointment comes as another testament to our long term commitment to Iraq. Standard Chartered is bringing its best international financial business practice and governance models to service our multinational clients. We believe Iraq has great potential for sustainable economic growth and we believe we can play a leading role in further supporting the country realize its full economic potential. I would like to welcome Ahmed to the team and I am confident he will be instrumental in further developing our business in the country.”
Ahmed has over 20 years investment banking and private equity experience. Prior to joining Standard Chartered, he was the founding member and partner of IQI, a private investment company in Baghdad. He also held the position of Middle East CEO of Renaissance Capital where he established Investment Banking and Asset Management divisions. Ahmed has also worked in London for Deutsche Bank, Citibank and Barclays Capital. Ahmed holds a Bachelor of Accountancy and Finance from the University of West London, London, UK.
Tarek Anwar, Co-Head of Wholesale Banking and Regional Head of Client Coverage in MENAP for Standard Chartered Bank added:
“At Standard Chartered Bank, we pursue a client-focused strategy and our entry into Iraq comes in response to and in anticipation of our clients’ growing financial needs from across our network in Asia, Africa, and the Middle East. Ahmed is an experienced banker with local knowledge and truly strong international banking expertise. We are confident with Ahmed leading the team, that he will play a key role in further deepening our client relationships both inside and outside Iraq.”
Standard Chartered launched its on-the-ground wholesale Banking operations with the opening of its headquarter and first branch in Iraq, in Baghdad during November 2013. The Bank aims to service the growing financial needs of its multinational corporate clients operating in Iraq, notably in the Oil and Gas, Construction, Telecommunications and Infrastructure sectors. The Bank will be opening two other branches in Iraq, one in Erbil during March 2014 and then Basra later in the year.