GFH: CFO Steps Down After 12 Years
Portfolio - People | Mar 20, 2025 | Zawya
Surya Hariharan, the longstanding Chief Financial Officer of Bahrain-based GFH Financial Group, has resigned from his position after 12 years. The company announced that Bhaskar Mehta, the Chief Risk Officer, will take over as Acting CFO until a permanent replacement is appointed. Hariharan's tenure at GFH began in September 2012, after leading a finance team for a private equity venture in Abu Dhabi. Meanwhile, GFH reported a significant increase in profits, with a net profit of $30.56 million for Q4 2024, marking a 27.63% increase compared to the previous year, and a total annual profit of $118.5 million, reflecting a 15.2% growth from the prior year.
Sectors
- Finance and Investment
- Private Equity
Geography
- Bahrain – Bahrain is the location of GFH Financial Group's headquarters.
- United Arab Emirates – The former CFO worked in Abu Dhabi, UAE, before joining GFH Financial Group.
Industry
- Finance and Investment – GFH Financial Group operates in the finance and investment sector, providing investment management and financial services.
- Private Equity – The former CFO led a finance team for a private equity venture prior to GFH, and GFH itself engages in private equity investment activities.
Financials
- $30.56 million – Net profit for the fourth quarter of 2024, which is up by 27.63% from the previous year.
- $118.5 million – Net profit for the full year of 2024, which represents a 15.2% increase from the previous year.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| GFH Financial Group | Company | Target Company | A Bahrain-based investment firm involved in financial services and investments. |
| Surya Hariharan | Former CFO | Person | Former Chief Financial Officer of GFH Financial Group, holding the position from 2012 until his resignation. |
| Bhaskar Mehta | Acting CFO | Person | Appointed as Acting Chief Financial Officer of GFH Financial Group following the resignation of Surya Hariharan. |