GFH Financial Group has announced the appointment of HE Jassim Mohammed Alseddiqi as its new chairman.

Alseddiqi, managing director and chief executive officer of Abu Dhabi Financial Group (ADFG), takes on the role vacated by HE Sheikh Ahmed Bin Khalifa Al-Khalifa, who has been named the board chairman of GFH-Capital, Bahrain News Agency (BNA) reported.

Commenting on his appointment, Alseddiqi said: "GFH has performed exceptionally well in the last two years and has returned more than $200m (BHD75.4m) to its shareholders in the form of dividends, bonus shares, and treasury share purchases.

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“ADFG strongly supports GFH’s long term growth. I am, therefore, pleased to assume the chairmanship of the Group’s board, considering our commitment to GFH and our focus on the expansion of its diverse investment activities.”

He continued: “2018 is expected to be another strong year for GFH in which we seek to unlock even greater value from its portfolio of financial and infrastructure assets. We also look forward to strengthening the Group’s relationship with its key stakeholders.”

Meanwhile, Al-Khalifa, who will oversee the continued expansion of GFH-Capital’s investment activities, added: "This is an exciting time of growth at GFH-Capital, and I’m pleased to assume the chairmanship of its board.

“GFH-Capital is a well-established platform with a strong track record and, building on the momentum of 2017, we are well poised to enter a new era of expansion. This includes plans to effectively increase our transaction capacity, both in terms of deal numbers and value, as well as significantly growing our assets under management, by further building our base of HNW (high-net-worth) clients across the GCC.”