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We have news of several resignations from two asset management firms in the UAE, and a new chairman for United Arab Bank.
Shuaa Capitalaccepted the resignation ofits group chief legal and compliance officer Bashir Al Nawar(LinkedIn), giving him two more months at the company, according to a DFM disclosure (pdf). The announcement comes one week after news of the resignation of its head of private markets, Ajit Joshi (LinkedIn).
Refresher: The company — which has seen net losses deepen more than fivefold over the past year — also sawCFO Gunshyam Kripa resigning earlier in January (pdf), after seven months in the position, along with board members André George Sayegh (pdf), and Maha AlQattan (pdf) for “personal reasons.”
ADX-listed holding company Apex Investmentappointed Hamad Al Shamsi, Futoon Hamdan Al Mazrouei, and Saje Thomas as board members, after approving the resignations of former board members Mansour Al Mansouri and Issa Khoury in February, according to an ADX disclosure (pdf).
REMEMBER- The company posted a net loss of AED 58.4 mn and an 11.8% y-o-y drop in revenues to AED 723.5 mn in 2023.
United Arab Bank has tapped Mohammed Bin Faisal Al Qassimias itschairman, and Omar Hussain Al Fardan as its vice chairman, according to an ADX filing (pdf) reads. Al Qassimi, founder of investment company Manafa, also serves in leadership roles at both the Italian Chamber of Commerce in the UAE and Faisal Holding, according to his biography (pdf) .
