NEWS ROOM

Addax bank assigned Wael Aburida as CEO

Date : 04 October 2010

Addax Bank, announced that its Board of Directors has voted to appoint Wael Aburida as the Bank’s Chief Executive Officer (CEO)

Addax Bank, a premier investment banking institution focused on investment in the MENA region, announced that its Board of Directors has voted to appoint Wael Aburida as the Bank’s Chief Executive Officer (CEO).  Aburida currently is also the head of M&A and strategic investments at Waha Capital, Addax Bank’s largest shareholder.

“Aburida brings to this role extensive experience and an impressive track record in investment banking and private equity,” said His Excellency Hussain Jassim Al Nowais, Chairman of Addax Bank. “Addax Bank has become renowned for its involvement in innovative, high-profile transactions across a wide range of industries.  We are confident that Aburida will steer the bank to greater successes and bring greater value to its stakeholders and clients”, he added.

Established in 2003, Addax Bank is a full-service investment bank providing corporate finance, investment banking and fund management.  Since its launch, it has quickly earned a reputation as one of the Middle East’s premier investment banks.

"The appointment of Wael Aburida as CEO ensures shareholder and management goals remain in alignment with the board’s key objectives including execution on a business plan that can take advantage of present market conditions to grow shareholder value,” Al Nowais further said, “On behalf of the Board of Directors and other members of the management, we wish him all the best and future success”, he added.

Wael Aburida has over eighteen years of experience in mergers and acquisitions, private equity investment, investment banking, equity research, corporate development, finance and management.  Apart from his roles in Waha Capital and Addax Bank, Aburida serves as a Member of the Board of Directors of MENA Infrastructure Fund GP, the GMMOS Group, Al Bashayer Investment Company, Ishraq Gulf Real Estate Holding, First Education Holding, Jordan Dubai Capital and AerVenture Limited.

Earlier in his career, Aburida was Managing Director of Investment Banking for Nollenberger Capital Partners Inc., a full-service broker-dealer investment banking firm based in San Francisco.  Aburida’s previous significant postings in the US included his tenure with DCA Partners LLC as Managing Director and Head of Investment Banking.  Prior to this, Aburida was Director and Co-Head of the Global M&A group for Intel Corporation.