Canada’s Barrick Gold has named Ammar Al-Joundi, a former member of its financial team, as its new chief financial officer (CFO). Al-Joundi had been CFO at Agnico-Eagle Mines since leaving Barrick in September 2010. The new appointment will take place on 10 July.
The CFO position at the world’s largest gold producer had been vacant since 6 June, when Barrick announced that Jamie Sokalsy was being promoted from CFO to chief executive officer (CEO), to replace Aaron Regent.
Al-Joundi was previously with Barrick for 11 years before joining Agnico-Eagle. He served as a senior vice president (SVP) and spent two years as CFO of Barrick’s South American business unit. Prior to joining Barrick in 1999, Al-Joundi spent eight years as an investment banker at Citibank Canada.
The country is expected to survive the review, which it must do to retain its place in the European Central Bank’s asset purchase programme.
The bank believes that the battered UK currency, recently only just holding above the US$1.20 level, could be trading at US$1.36 by this time next year.
The Middle East oil producer’s debut global bond issue surpassed the total of US$16.5bn raised by Argentina when it tapped the market earlier this year.
The group reports that currency fluctuations were less of a challenge to multinationals in the second quarter of 2016, but Brexit has since spelt a return to volatility.