|08 October, 2019

Dubai's Shuaa Capital appoints new CEO

Joachim Mueller has been named as the chief financial officer, while Bechara Raad is the chief operating officer.

Image used for illustrative purpose.

Image used for illustrative purpose.

Gettyimages

UAE-based financial services group Shuaa Capital has appointed Jassim Alseddiqi as chief executive officer and named several other top executives.

The Dubai-listed firm also announced the appointment of Mustafa Kheriba as deputy chief executive officer, the company said in a statement to the Dubai Financial Market (DFM).

Joachim Mueller has been named as the chief financial officer, while Bechara Raad is the chief operating officer.

Shuaa recently completed a merger with Abu Dhabi Financial Group (ADFG), whose CEO is Alseddiqi, creating an entity with $12.8 billion of assets under management.

Last month, the firm agreed to sell its SHUAA Securities brokerage and market-making businesses in the UAE to a subsidiary of International Holdings Company (IHC). The deal was part of the combined entity’s strategy to exit non-core businesses and focus on investment banking and asset management. Read more here:

(Writing by Nada Al Rifai nada.rifai@refinitiv.com , editing by Seban Scaria)

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© ZAWYA 2019

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