UAE - Dubai, 09 June, 2016: UAE's leading financial institution, Mashreq announced that Abdul Kadir Hussain, Head of its Asset Management unit and CEO of Mashreq Capital (DIFC) Ltd has decided to leave the institution for personal reasons. Mr. Kadir will be replaced by Mr. Aamir Peracha, Managing Director and Head of Equities and Derivatives at Mashreq.

Mr. Hussain leaves behind a strong management team at Mashreq Capital and played a significant role in the development of the Asset Management business at Mashreq.  Asset Management remains an important business line for Mashreq, and the Bank remains committed to growing this business.

Mashreq Capital is a 100% owned subsidiary of Mashreq, and is registered within the DIFC.  Having grown significantly over the last few years, it currently manages four award winning funds - two each in equities and in fixed income. The bank received recognition recently at the MENA Fund Manager Performance Awards - a testament to Mashreq's outstanding performance of its Sharia'h compliant Sukuk Fund.

-Ends-

About Mashreq
Mashreq is the oldest bank in the UAE with an extensive branch network across the Emirates. Mashreq is also present in 11 countries outside UAE with 21 overseas branches and offices spread across Europe, USA, Asia and Africa providing a comprehensive range of international financial services. Established in 1967, Mashreq has established itself as a market leader by delivering award-winning customer experiences and innovative thinking across its financial products and services. Mashreq's various banking divisions cater to its own unique specialisms and expertise and include: Corporate Banking, Retail Banking, International Banking, and Innovative Treasury Services. The bank also allows for customers to experience Sharia'h Compliant financial banking solutions. As a leading financial institution, Mashreq is committed to supporting every community it serves. In the UAE, the bank pays particular attention to recruiting, training, and developing UAE National employees.  Mashreq is the only financial institution in the UAE to have been awarded the CSR Label by Dubai Chamber for five years in a row.

© Press Release 2016