Abu Dhabi-listed Eshraq investments has announced the appointment of ADQ official Fahad Abdul Qadar Al Qassim as its new chairman.

Al Qassim who was appointed to the board last week, is CEO of healthcare and life sciences at the Abu Dhabi Government investment vehicle, as well as acting director general of the UAE Endowments’ and Minors’ Funds Authority.

He replaces Jassim AlSeddiqi who stepped down from the role last month after seven years.

Al Qassim was also previously CEO of Emirates NBD Capital and head of principal investments at Waha Capital.

Jacques E Fakhoury, currently a senior advisor to PwC Middle East, also joined the board, while existing board member Matar Hamdan Al Ameri was elected as vice chairman.

Eshraq announced it will be restructuring its board following the resignation of three members in September.

(Writing by Imogen Lillywhite; editing by Seban Scaria)