Manama: - Bahrain National Holding B.S.C. (BNH) the premier Bahraini Insurance Group, announces the upcoming retirement of Mr. Sameer AlWazzan from his current position as Group Chief Executive Officer, effective 13th February 2023, after nine years of outstanding service to the Group. The Board of Directors has named Mr. Raed Fakhri to succeed Mr. AlWazzan as Group CEO and will be joining the Group on 14th February 2023.
Mr. AlWazzan has held several executive positions prior to joining BNH as CEO in January 2014. In this role, he has skillfully and thoughtfully led the Group through some unique challenges and seen improved performance and results, enabled by his clear vision, strategic choices, and distinguished leadership.
Mr. Farooq Almoayyed, Chairman of Bahrain National Holding, commented: "On behalf of BNH’s Board of Directors, I would like to extend our sincere gratitude and appreciation to Mr. Sameer AlWazzan for his leadership and contribution to our business and for helping grow shareholder value. During his tenure, BNH has grown considerably and maintained itself as an insurance industry leader with a trusted brand reputation and strong financial position. Under his leadership, BNH has made critical changes to its strategy, structure, and organisation that have positioned it strongly for success and contributed towards driving further growth within the Kingdom of Bahrain."
“We are also delighted to welcome Mr. Raed Fakhri in the position of Group CEO, bringing with him profound strategic, operational, and professional experiences that we are confident will drive our strategic and operational transformation, building on existing strengths and accelerating growth in key business areas.” he added.
Mr. Raed joins the Group with over 28 years of experience in Investments, Business Development & Engineering. Prior to his recent position as Advisor of Local Impact Investments at Mumtalakat, he held several senior leadership roles, including Managing Director of Local Impact Investments and Vice President of Investments at Mumtalakat, Investment Director at Capivest Investment Bank, Senior Manager at Batelco, and Engineer at Gulf Petrochemical Industries. He is also the Co-Founder of BDI Partners, which was established in 2010; he has headed the firm as its Managing Director.
Mr. Raed served on various boards throughout his career, such as the Boards of Gulf Air Group and The Cranemere Group. Currently, he serves on the boards of Investrade, American University of Bahrain and holds the position of Deputy Chairman at Batelco. He holds an Executive MBA from the University of Bahrain and a Bachelor of Science in Electronics Engineering Technology from the University of Central Florida, Orlando, USA.