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NEWS
BBK bids farewell to long-time banking veteran Mr. A.Karim Bucheery and announces the appointment of banking expert Mr. Reyadh Yousif Sater as its Chief Executive.
30 Mar 2016
Under the patronage of BBK Chairman Mr. Murad Ali Murad, BBK held a dinner ceremony to honor Mr. A.Karim Bucheery, BBK Chief Executive on the occasion of his retirement. By the same, the Chairman announced the appointment of Mr. Reyadh Yousif Sater, as BBK new Chief Executive effective April 1st, 2016.
The ceremony was held on March 16th, 2016 at the Four Seasons Bahrain, It was attended by HE Ali bin Saleh Al Saleh, Chairman of the Shura Council, HE Shaikha Mai Bint Ebrahim Al Khalifa, President of the Bahrain Authority for Culture and Antiquities, HE, CBB Governor Mr. Rasheed Al Meraj, HE Mr. Mustafa Al-Sayed the Secretary General of the Royal Charity Organization,, BBK board members, dignitaries from Bahrain and the Gulf, the Bank’s valuable customers as well as BBK management team.
In his opening speech, the Chairman expressed his appreciation to Mr Bucheery and praised the Bank’s results during his tenure as Chief Executive from 2008 till today,
Mr, Bucheery’s role in the past 14 years since he joined BBK in 2002 has been instrumental to the Bank’s success. Under his leadership as Chief Executive, BBK has made record profits despite the challenging operating environment. The Bank was able to achieve year on year growth in its bottom line, recording a net profit of BD 53.2 million at end of 2015, 77% growth compared to the net profit achieved in 2007 of BD 30.0 million.
On the same occasion, Mr Murad Ali Murad announced the promotion of Mr. Reyadh Yousif Sater and his appointment as BBK Chief Executive, effective 1st April, 2016. He said “ BBK Board places utmost importance on the succession planning and is proud to have high caliber Bahrainis experts part of its Executive management team. Mr Reyadh Sater is long time banking veteran. He spent 38 years in BBK where he has undertaken various responsibilities in different leadership positions, last of which being Deputy Chief Executive – Business Group”
“We are confident that BBK, and under his leadership, will continue on its path of success, maintaining its pioneering position in the market while expanding and diversifying its offering.” added the Chairman.
Following the Chairman’s speech and recognition, Mr A.Karim Bucheery conveyed his appreciation to Mr. Murad Ali Murad and to all the Board members for this memorable ceremony on the occasion of his retirement, and to all the dignitaries and colleagues for their attendance.
In his speech, he recapitulated his great banking life and the 40 years dedicated to the financial sector. He also wished Mr Reyadh Sater success and prosperity on his new appointment.
Upon his appointment as the Chief Executive, Mr. Sater expressed his gratitude to the Board of Directors and said “ I would like to convey my deep appreciation to the Board for the trust they place in me. It is a great honor for me to be appointed Chief Executive for such a leading organisation. I am confident that alongside BBK’s Executive Management, and all the Bank’s employee, we will continue to focus on our values and deliver to our vision. We will strive to sustain and even enhance the Bank’s competitive position through innovation and maintain the great relationship with our esteemed customers.”
Praising BBK’s human resources policies, which throughout the years made heavy investments in its human capital, preparing and enabling bahrainis to be in leadership positions, Mr Sater expressed his pride in being the fourth Bahraini Chief Executive appointed by BBK.
Mr Sater executive experience spans over 38 years in commercial banking, with diverse skills in many areas and a particular strength in audit being a Certified Internal Auditor.
As Deputy Chief Executive – Business Group, with direct responsibilities for Retail Banking, Corporate Banking, Treasury, Investment & Institutional Banking, Remedial & Overseas Branches, Mr Reyadh Sater was a key contributor to maintaining the Bank’s position as one of the leading commercial banks, driving its vision and strategy, expanding BBK’s and its subsidiaries’ range of products and services as well as they geographical reach, locally and internationally.
Mr. Sater holds an MBA from the University of Glamorgan – UK, obtained in 2001. He has attended many specialized banking and management training programmes such as the Darden Executive Management Program in Virginia.
He has been an active member of various management committees in the Bank: Assets and Liability, Senior Human Resources, Risk Management, Country Risk and Management Credit.
Representing BBK’ investments in various Board of subsidiaries, presently, he is the Vice Chairman of the Board of CrediMax and Chairman of its Audit Committee. He is also Member of the Board of Bahrain Credit Facilities Co (BCFC) and Member of the Board of National Motor Company (NMC).
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