Change of CEO at GlobalCapital

GlobalCapital’s CEO Nicholas Portelli will be taking up a new position with the British American Group, the largest shareholder within the company. In his new position as vice president asset and fund management with British American’s office in London, Mr. Portelli will have a senior role covering international asset management and fund activities of the group as well as new initiatives.

In his place the directors of GlobalCapital have appointed Bashar Khatib. Subject to regulatory approval, Mr. Khatib has also been appointed as designate CEO of the company’s regulated operating subsidiaries, GlobalCapital Financial Management Limited, GlobalCapital Life Insurance Limited, GlobalCapital Health Insurance Agency Limited and GlobalCapital Insurance Brokers Limited.

“While joining the Board of Directors of GlobalCapital p.l.c. in thanking Mr. Portelli for his loyal service to the Group and wishing him success on his new appointment, I would also like to augur every success to Mr Khatib in his role as Group CEO. Under Mr. Khatib’s leadership, the group will focus on growing all lines of business and provide tailor made solutions for our clients’ needs. Mr. Khatib will ensure that GlobalCapital will continuously deliver exceptional products and services into the market whilst at the same time creating new opportunities for the Group, ” said GlobalCapital chairman Nicholas Ashford-Hodges.

Mr. Khatib has been actively involved in the financial services sector for over 20 years with a strong focus on life insurance. He has held senior positions with a number of multi-national financial services companies in the United States, Europe, the Far East and the Middle East and brings with him a wealth of experience including knowledge of Islamic insurance, having recently been responsible for the establishment and management of a premier dedicated Shariah compliant Life and Health Insurance Company in the United Arab Emirates.

GlobalCapital p.l.c. is listed on the Malta Stock Exchange.