21/05/2018 08:41 AST

Bank Sohar announced the appointment of Ahmed Al Musalmi as the new Chief Executive Officer with effect from May 20, 2018 taking over from Sasi Kumar who is leaving the bank after having served over 10 years to pursue new personal and professional interests. In his new role as CEO of Bank Sohar, Al Musalmi will continue to spearhead the bank’s efforts towards further realising exponential and sustainable growth.

Commenting on the appointment of the new CEO, Mohammed Mahfoudh Al Ardhi, Chairman of the Board of Directors at Bank Sohar said “We are pleased to have such caliber like Ahmed Al Musalmi to lead the management team towards further success and excellence. With a diversified and extended experience in the banking industry, we are confident that Al Musalmi will build on the bank’s success and help strengthen its capabilities as a market leader to continue achieving sustainable growth across sectors.”

“I look forward to working with Al Musalmi as we take great steps to become one of the leading regional banks, playing a vital role in supporting the national economy and the financial sector and further tapping into new horizons of innovation and banking excellence," Al Ardhi added.

“I would like to thank Sasi Kumar for his dedication and contribution to the success of the Bank. We wish him great success in his future endeavours" Al Ardhi said.

Al Musalmi’s distinguished career spans more than two decades and has included senior leadership roles at organisations such as National Bank of Oman (NBO), NBAD and Majan International Bank. His extensive banking experience covers retail banking and wealth management, corporate banking, SME, trade finance, capital markets, IT, HR and strategy and business planning.

Al Musalmi is the Deputy Chairman of Oman Bankers Association, a member of the College of Banking and Financial studies’ board, and is a committee member of the Bank Deposits Insurance Scheme (BDIS) at the Central Bank of Oman (CBO). He also sits on the boards of a number of prominent institutions including Oman Aviation Group, Special Economic Zone of Duqm (Sezad), Majan College, and Oman Takaful.

Ahmed Al Musalmi completed the Harvard Business School Advanced Management Programme and holds an MBA with distinction from the University of Luton, UK as well as an International Diploma in Financial Services. He is a Chartered Market Analyst with Financial Analyst Designate, Chartered Portfolio Manager and Chartered Wealth Manager. He is a fellow of the American Academy of Financial Management and has attended a number of advanced programmes including an intensive high performance leadership programme at the IMD business school in Switzerland.

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