Arabs Advisors Group expands into Dubai and moves HQ to Amman
The group welcomed Hakam Kanafani as strategic investor with a 40% stake purchased from the Arab Jordan Investment Bank in 3Q 2016.
Arab Advisors group, a research and events house, has announced the election of Hakam Kanafani as its Chairman.
Bringing a wealth of industry and market experience to the firm, Kanafani acquired a 40% stake in the Arab Jordan Investment Bank (AJIB) in Arab Advisors. With the conclusion of the transaction, Arab Advisors Group's owners are Kanafani and Jawad Abbassi & family.
Outside of the new appointment, the company has also announced its moving its headquarters to a new location in Amman, Jordan. Furthermore, the company is devising plans for expansion into Dubai in 2017.
Commenting on his election, Kanafani stated "Since its inception, I have been an admirer and a customer of Arab Advisors, and today I am thrilled to be part of this partnership. The ICT and Digital Media industry is at a crossroad that requires efficiency, change in values and creative thinking. Arab Advisors Group is here to support and assist wholeheartedly our Telecommunications industry to grow more and compete further."
Jawad Abbassi, Arab Advisors Founder and majority shareholder, shared: "Hakam is a long and close friend and is an ideal chairman for the company. Since I left the active management of Arab Advisors over a year ago, the company has grown well which is a testimony to its capable and driven team.
"At the time, back in Sept 2015, leaving the management of the company I founded 15 years ago, was a bitter sweet occasion. Yet welcoming Hakam as a strategic partner and chairman is indeed a memorable and joyous event".
Kanafani previously served as the group CEO for Türk Telekomünikasyon A.S. from August 2010 to January 2014, and was voted the best CEO in Turkey for Investor Relations for three consecutive years.