Gatehouse Bank announces leadership change for next phase of growth

LONDON, 13 November, 2015: Gatehouse Bank plc (“Gatehouse”) today announces that its Board of Directors will elevate Abdulaziz Al-Duweesh, Gatehouse’s Chief Investment Officer, to the position as acting Chief Executive Officer, following the departure of Henry Thompson as CEO. The appointment of Mr Al-Duweesh is subject to regulatory approvals.

Mr Thompson has overseen the successful reorganisation of Gatehouse’s corporate structure, bringing together all of its affiliates and sister companies globally. With its more efficient, focused and streamlined structure, Gatehouse is now well positioned to provide an enhanced service to all of its clients across each of its business lines. This realignment has created a more nimble and responsive corporate structure, designed to meet clients' rapidly changing needs across multiple investment platforms and distribution regions globally.

Mr Al-Duweesh has been integral to setting Gatehouse’s strategy for the next phase, and the elevation to acting CEO recognises the important contributions he has made in the areas of real estate investment, real estate finance and private client servicing, among others. He has been instrumental in expanding Gatehouse’s investment activities in the UK private rented sector (PRS), a major area of focus for Gatehouse.

Fahed Boodai, Chairman of The Board of Directors, said: “Henry leaves Gatehouse in very strong shape following his leadership through an important stage of Gatehouse’s development. The Board is grateful for his contribution to the business and we wish him the very best for his future endeavours.

“Gatehouse has a great product offering, a proven track record of delivery and a team of extremely strong professionals; it is well positioned to grow the business as we enter the next phase of development. Our focus continues to be on providing tailored wealth and investment services for professional investors, family offices, institutions and sovereign clients in the Arabian Gulf, Asia and Europe. I am delighted that Abdulaziz will lead Gatehouse going forward.”

Mr Thompson said, “It has been a pleasure to lead Gatehouse. I would like to thank the Board and my colleagues for their support and dedication during my time with Gatehouse and look forward to watching the business continue to grow.”

Mr Al-Duweesh said, “I look forward to the challenge of leading Gatehouse during its next phase of growth. Gatehouse enjoys a strong position in the market and is poised to deliver the products and solutions demanded by its clients. We will move forward with confidence.”

Mr Thompson will remain at the Bank for a period of time to ensure a smooth transition to Mr Al-Duweesh.