Leadership changes at AD Ports, Takasbank, and National Bank of Oman

We have a handful of leadership changes at major companies and banks across the region this morning, including two resignations in Turkey and Oman.

AD Ports appointed Afif Saif Al Yafei (LinkedIn) as group CEO, according to a press release. He succeeds Mohamed Juma Al Shamisi (LinkedIn), who had led the group since 2014. The statement didn’t mention a reason for the new appointment but noted that the group had grown into a global business under Al Shamisi’s tenure. Al Yafei joins AD Ports from Taqa Transmission, where he previously served as CEO. He also held senior positions at Tabreed, including as VP of asset management, and Adnoc Gas.

Turkey’s fund probe reaches Takasbank: Yunus Arinci has resigned as CEO of Takasbank, the clearing and custody bank at the center of Turkey’s capital markets, after prosecutors questioned him over the weekend, Bloomberg reports, citing people familiar with the matter. Arinci was questioned over allegations that Takasbank’s money market liquidity financed some investors’ exits from funds, T24 reports. The probe stems from a September redemption crunch that forced regulators to liquidate 131 funds, hitting more than 455k investors.

Gokhan Elibol, deputy CEO for markets and operations, steps up as acting CEO, a role he held in 2019-21, Takasbank said. This is the third leadership shake-up at Turkey’s market institutions in days, after Borsa Istanbul CEO Korkmaz Ergun, also Takasbank’s deputy chair, was detained and the SPK got a new chairman.

Abdullah bin Zahran Al Hinai is stepping down as CEO of National Bank of Oman, citing personal reasons, the bank said in a statement (pdf). He will remain in the role until March 31, 2027. Al Hinai held this post since August 2020 when he was appointed after a lifelong career of over 20 years at Bank Muscat where he assumed various roles, ending with Chief Wholesale Banking and Strategic Growth Officer.