Chairman, board member said to leave Bahrain's First Energy Bank
The chairman of Bahrain-based First Energy Bank, Khadem al-Qubaisi, and board member Mohamed al-Husseiny have reportedly left the bank, with a new chairman to be appointed shortly, after approval by the central bank of Bahrain. Al Qubaisi was one of the most prominent executives in the United Arab Emirates until the UAE energy minister replaced him as managing director of state-owned International Petroleum Investment Co last April. Husseiny was replaced as chief executive of Aabar last year after holding that post since 2010. Unlisted First Energy Bank reported a net loss of $375.2 million for 2015.
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