December 23, 2009 / 6:51 PM / 10 years ago

Faisal Private Bank appoints new CEO

ZURICH, Dec 23 (Reuters) - Geneva-based Faisal Private Bank said on Wednesday it had appointed Swiss national Mark Koch to replace outgoing Chief Executive Marco Rochat from Jan. 1 with a mandate to broaden the Islamic finance focus of the bank.

Rochat had said on Tuesday he had resigned the chief executive role at Faisal, a subsidiary of Bahrain-listed Ithmaar Bank ITHMR.BH, for personal reasons. [ID:nLDE5BK1L0]

Two days before Ithmaar’s board of directors had said it replaced chairman Khalid Abdulla-Janahi with Amr Mohammed al-Faisal. [ID:nLDE5BJ06M]

Faisal said in a statement Koch had been charged with broadening the focus of the bank beyond wealth and asset management based on Islamic principles to Islamic trade finance and asset management. (Reporting by Martin de Sa’Pinto; Editing by David Holmes)

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