Mashreq announces new Head of its Asset Management business

Press release

Published June 9th, 2016 - 07:30 GMT

UAE’s leading financial institution, Mashreq announced that Abdul Kadir Hussain, Head of its Asset Management unit and CEO of Mashreq Capital (DIFC) Ltd has decided to leave the institution for personal reasons. Mr. Kadir will be replaced by Mr. Aamir Peracha, Managing Director and Head of Equities and Derivatives at Mashreq.

Mr. Hussain leaves behind a strong management team at Mashreq Capital and played a significant role in the development of the Asset Management business at Mashreq. Asset Management remains an important business line for Mashreq, and the Bank remains committed to growing this business.

Mashreq Capital is a 100% owned subsidiary of Mashreq, and is registered within the DIFC. Having grown significantly over the last few years, it currently manages four award winning funds – two each in equities and in fixed income. The bank received recognition recently at the MENA Fund Manager Performance Awards – a testament to Mashreq’s outstanding performance of its Sharia’h compliant Sukuk Fund.

Background Information

Mashreq

Mashreq has provided banking and financial services to millions of customers and businesses since 1967.

We are one of UAE's leading financial institutions with a growing retail presence in the region including Egypt, Qatar, Kuwait and Bahrain. We focus on providing our customers access to a wide range of innovative products and services.