Ithmaar Bank, a Bahrain-based investment bank with global reach, has appointed Ravindra Khot as group chief financial officer.

Khot is responsible for planning, managing and directing the consolidated financial accounting and reporting of the bank and its subsidiaries and associates: Swiss-based Faisal Private Bank, Pakistan-based Faysal Bank Limited (FBL) and Bahrain-based Shamil Bank of Bahrain, Solidarity (the global takaful company), First Leasing Bank (FLB), and Ithmaar Development Company (IDC).

Khot, an Indian national with more than 20 years of experience in the financial services industry, has taken charge of consolidated financial, regulatory and management reporting, as well as the annual budget process. He will also be involved in supporting the bank’s strategic planning process, and will be providing proactive and key assistance in management decision-making.

“A strong CFO is fundamental to the long-term success of any organization. Ravi will be expected to identify opportunities to create value within the group. His rich background in the financial services industry makes him ideal for this demanding position,” remarked Michael P Lee, CEO, Ithmaar Bank.
 
“Backed by a solid financial control team, Ravi is not only looking after our financials, but is also playing a key role in compliance issues and strengthening further our corporate governance in accordance with changing international best practice,” he said.

Prior to joining Ithmaar Bank, Khot held the position of vice president, financial administration at TAIB Bank. He was trained at PricewaterhouseCoopers, starting his professional career there in 1986, where he became senior manager, Financial Services. –TradeArabia News Service