UNITED ARAB EMIRATES: SHUAA Capital psc, the leading asset management and investment banking platform in the region, has announced the appointment of Wafik Ben Mansour as Acting CEO.

Wafik will lead the next phase of SHUAA’s capital optimisation process to create a growth platform and capitalise on market opportunities in the UAE and wider region.

Formerly a Managing Director at Credit Suisse for 15 years, Ben Mansour joined SHUAA in May 2023 to lead the company’s advisory and capital markets platform, which serves institutional clients across the MENA region.

After over a decade with the Group, Fawad Tariq Khan has decided, for personal reasons, to step down from his position as CEO. During his tenure, Fawad’s time was characterised by commitment and dedication to the company.

Fadel Al Ali, Chairman of SHUAA Capital, said: “The Board of Directors welcomes Wafik to his new role and looks forward to working with him and the wider management team to deliver the next chapter of SHUAA’s growth. We thank Fawad for his dedication to the company and continued contribution over the coming months.

As the capital optimisation plan moves forward, we are confident in SHUAA’s ability to leverage the firm’s operational strengths to deliver sustainable growth.”

Wafik Ben Mansour added: “I am honoured to assume the role of Acting CEO at SHUAA Capital, and I am excited about the business opportunities that lie ahead both in the UAE and regionally. I will be closely working with the Board and Management team to charter a new course for the company, one that prioritises excellent client service, sustainable growth and shareholder value while simultaneously enhancing balance sheet efficiency.”