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Shuaa Capital CEO to leave firm


Dubai-based firm announces new senior appointments.

December 31, 2013 7:08 by

Shuaa Capital said its CEO Colin Macdonald will leave the group when his contract expires on Tuesday, December 31.

The Dubai-based financial services company, which has laid off one third of its staff since 2011, did not name a replacement, but said that Houssem Ben Haj Amor, currently the company’s chief financial officer, will be appointed general manager.

The firm hired ex-ABN Amro banker Macdonald as chief executive in April 2012 as part of a new strategy to grow its lending business, under Chairman Sheikh Maktoum bin Hasher al-Maktoum.

The company also announced the appointment of Karim Schoeib as chief executive for investment banking and Amer Khan as senior executive officer of SHUAA Asset Management.

Jennifer Adams has been appointed director of operations and Michael Hewitt, previously CEO of Saffar Capital, a GCC-focused investment and advisory firm, has been appointed head of the executive office.

Sheikh Maktoum, executive chairman of Shuaa Capital, said the company is gearing up to capture new revenue opportunities in the GCC in its next phase of strategic development, adding that new senior appointments will accelerate revenue growth in 2014 “and beyond”.

He adds: “We believe that the breadth and depth of the senior appointment’s technical expertise, operating experience and origination capabilities, will enable us to benefit from growth opportunities emerging across the GCC.“

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