Soud Ba’alawy elected Chairman of Marfin Popular

The Board of Directors of Marfin Popular Bank has elected Soud Ba’alawy as Chairman of the Bank, whilst Neoklis Lyssandrou was elected as Vice Chairman during a meeting of the Board held in Nicosia on February 8, 2007 where the preliminary 2006 results were also approved.

“Marfin Popular Bank has a vision to become one of the biggest and most successful banking groups in Southeastern Europe,” said the new Chairman Ba’alawy

Dubai Financial, as Marfin Popular Bank’s major shareholder, will support the management of the bank in realizing this vision in the most appropriate time and way, taking into consideration our priority to create value for all shareholders, which include a large number of Cypriot and Greek investors.

Finally the Board of Directors of Marfin Popular Bank decided to convene a General Meeting of shareholders in order to achieve flexibility for further materialization of the bank strategic plan and/or deposition of Public Offers for Greek and/or Cypriots Banks.

Soud Ba’alawy is Executive Chairman of Dubai Group and Executive Committee Member of Dubai Holding.

Ba’alawy joined Dubai Investment Group in early 2000.  Responsible for setting up The Investment Office, he was tasked with the mandate of building a diversified international portfolio of investments across a range of asset classes.

Prior to joining the Dubai Investment Group, Ba’alawy held the positions of Chief Investment Officer, Dubai Internet City; and Vice President, The Executive Office. 

Ba’alawy began his career with Citibank, Singapore, overseeing risk management operations for Singapore, Malaysia, Thailand and the Gulf. He was subsequently appointed as Vice President – Gulf Treasury, Citibank Dubai.  

Ba’alawy is the Chairman of Marfin Financial Group, Board Member and Vice Chairman of Dubai Bank, Chairman of Dubai Financial.  He also holds board memberships of several prestigious organizations, including Dubai Mercantile Exchange (DME), Emirates Integrated Telecommunications Company (EITC) and the Chairman of Manzil, a non-profit centre for persons with special needs.

Ba’alawy is a member of the Chartered Institute of Management Accountants (CIMA), United Kingdom.