2023-11-20 06:03:03
Strategic changes in senior management represent an important step towards achieving the company’s development aspirations, creating value for shareholders and improving services provided to customers.
Bin Mansour will lead the next phase of the company’s capital improvement process to stimulate growth and take advantage of the opportunities available in the UAE and the region in general.
The United Arab Emirates: Shuaa Capital PJSC (listed on the Dubai Financial Market with the symbol SHUAA), the region’s most prominent asset management and investment banking platform, announced the appointment of Wafiq Bin Mansour as Acting CEO. Bin Mansour will lead the next phase of the capital improvement process in Shuaa, to continue to stimulate growth and take advantage of the opportunities available in the UAE market, and the region in general.
Bin Mansour previously served as Managing Director at Credit Suisse for 15 years, and joined Shuaa in May 2023 to lead the advisory and capital markets platform that serves clients throughout the Middle East and North Africa region. CEO Fouad Tariq Khan decided to step down from his position, for personal reasons, following more than ten years of work in the group, during which he provided a role model for commitment and dedication to work.
On this occasion, Fadel Al Ali, Chairman of the Board of Directors of Shuaa Capital, said: “The Board of Directors welcomes Wafiq bin Mansour assuming his new position, and we look forward to working with him and our management team to lead the next phase of Shuaa Capital’s growth journey. We extend our sincere thanks to Mr. Fouad Tariq Khan “Thanks and appreciation for his dedication to serving the company, and his continued cooperation with us during the coming months. As we move forward with our plan to improve capital, we are confident in Shuaa’s ability to optimally utilize its operational competencies in order to achieve sustainable growth.”
For his part, Wafiq bin Mansour said: “I am honored to assume the position of Acting CEO of Shuaa Capital, especially at this stage in which the UAE market and the region are full of promising opportunities. I will work closely with the Board of Directors and the administrative team, to determine a new path for activities.” The company’s priority is to provide exceptional services to customers, continue sustainable growth, and achieve the best possible value for shareholders, while enhancing the efficiency of the balance sheet.”
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About Shuaa Capital PJSC
Shuaa Capital PJSC (listed on the Dubai Financial Market under the symbol: SHUAA) is a leading asset management and investment banking platform in the region and was established in 1979. Shuaa Capital is known for its proven track record and pioneering investment approach through its distinguished offering of innovative and global products that… Centered around public and private markets, debt and real estate.
The company’s asset management unit manages funds, real estate projects, portfolios, regional equity investment funds, fixed income activities and credit markets. It also provides investment solutions to clients with a focus on alternative investment strategies. The Investment Banking Services Unit provides corporate finance advisory services, transaction and transaction services, private placement, public offering of shares, and debt securities. It also provides market liquidity services on non-prime market fixed income products. Shuaa Capital is a financial investment company licensed by the Securities and Commodities Authority in the United Arab Emirates.
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