KUWAIT: Kuwait Finance House (KFH) has reportedly revealed a restructuring plan which includes a management reshuffle and the sale, merger or restructuring of unprofitable subsidiaries.
Mohammed Sulaiman Al-Omar, its CEO, said that KFH’s reorganization plan, which also involves creating separate divisions for banking, investment, operations and wealth management, has been approved by the bank’s board and will include “the appointment of new executives”. He added that the plan is currently awaiting approval from the Central Bank of Kuwait.