Dubai-based Rasmala Investment Bank on Tuesday appointed two new co-CEOs and has accepted the resignation of its CEO Tamer Bazzari, Emirates 24|7 can reveal.
According to an internal e-mail sent to staff in Rasmala on November 30, the Board of Directors of Rasmala Holdings has accepted the resignation of Tamer Bazzari as CEO.
The Board also appointed Anwar AbuSbaitan and David Woods as Co-CEOs, the e-mail said.
The Board approved a rationalisation plan to bring costs down by 25 per cent and prepare Rasmala for a strong 2011.