| Kippreport.com

Former Shuaa Securities chief joins Abu Dhabi firm

September 7, 2010 2:46 by Reuters

The former chief executive of Dubai-based investment bank Shuaa Capital’s brokerage unit has been hired by an Abu Dhabi investment bank as chief investment officer.

Mohammed Ali Yasin, former head of Shuaa Securities who resigned in June, will start with CAPM Investment on Sept. 15 and will help the firm expand operations in the Gulf Arab region and its home market, CAPM Investment said in a statement.

Yasin was named chief executive of Shuaa Securities in 2006, and oversaw the firm’s rapid expansion across the Middle East, emerging as the second-largest broker in the UAE by market share.

CAPM Investment was established in 2007 with initial capital of 100 million UAE dirhams ($27.23 million) to provide corporate investment banking, asset management and brokerage services in the UAE and the Middle East region.

(Reporting by Tamara Walid; Editing by Reed Stevenson)

Tags: Abu Dhabi firm chief investment officer, CAPM Investment, former head of Shuaa Securities, new chief investment officer