HSBC has marked 20 years of doing business in Kuwait and announced the appointment of Ahmed Al Murad as Chief Executive Officer, succeeding Samer Alabed. The bank celebrated its two decades in the country at a client event held under the patronage of His Excellency Dr. Subaih Al- Mukhaizieem, Minister of Finance, Kuwait.
Al Murad becomes the first Kuwaiti national to lead HSBC in Kuwait and brings almost two decades of experience in financial services. Ahmed has extensive international banking experience, the last 11 years of which have been with HSBC in a series of leadership roles across corporate, institutional and commercial banking.
Commenting on the bank’s anniversary, His Excellency Dr. Sobeeh A. A. Almukhaizim, Minister of Electricity, Water and Renewable Energy & Acting Minister of Finance and Minister of State for Economic Affairs and Investments, said: “Over the past two decades, HSBC has played an important role in supporting Kuwait’s financial sector, facilitating international trade, and connecting Kuwaiti businesses with global opportunities. As we look to the future, Kuwait remains committed to advancing its economic transformation under the guidance Vision 2035. Financial institutions such as HSBC are essential partners in this journey. Bringing global best practices, innovative financial solutions, and deep market knowledge, will strengthen our economic foundations and broaden the horizons for our investors, entrepreneurs, and industries.”
Since commencing operations in 2005, HSBC has been committed to playing a central role in connecting Kuwait to global markets and contributing to the development of the country’s financial sector and economy.
Selim Kervanci, Chief Executive Officer, Middle East North Africa and Türkiye (MENAT), HSBC Bank Middle East Limited, said: “Celebrating 20 years in Kuwait is a testament to our commitment to supporting the country’s growth and connecting its people and businesses to opportunities around the world. We are proud of the partnerships we’ve built and the positive impact we’ve made together. As we mark this milestone, I am delighted to announce the appointment of Ahmed Al Murad as our first Kuwaiti CEO, a significant step that reflects our dedication to nurturing local talent and deepening our roots in the community. I would also like to extend my sincere thanks to Samer Al Abed for his outstanding leadership and contributions. Looking ahead, HSBC remains dedicated to driving innovation and helping our clients achieve their ambitions in an ever-evolving global landscape.”
The event brought together the Central Bank of Kuwait Governor Mr. Basel Al Haroun, Sheikh Abdulla Sabah Al Humoud Alsabah, Deputy Director General for Investment Operations KDIPA as well as senior officials, clients, investors and partners, underscoring HSBC’s long-term commitment to Kuwait.
“It is a privilege to take on this role at such a significant moment for HSBC in Kuwait. I look forward to leading the bank through the next phase of its growth and helping our customers achieve their ambitions for the future.” Ahmed Al Murad said.
For further information, please contact:
May Mohsen
Head of Communications Egypt, Qatar and International Markets
Mobile 01023998366
E-mail maymohsen@hsbc.com
Mai Salem
Communications and Media Relations Officer | Qatar and International Market Communications
Mobile: +97455576008
E-mail:maisalem@hsbc.com
HSBC in the MENAT region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of US$71bn as at 31 December 2022.
