{"id":631219,"date":"2018-03-13T04:10:30","date_gmt":"2018-03-13T04:10:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/13\/is-abraaj-going-through-a-wave-of-defections\/"},"modified":"2018-03-13T04:10:30","modified_gmt":"2018-03-13T04:10:30","slug":"is-abraaj-going-through-a-wave-of-defections","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/13\/is-abraaj-going-through-a-wave-of-defections\/","title":{"rendered":"Is Abraaj going through a wave of defections?"},"content":{"rendered":"

<\/a> Is Abraaj going through a wave of defections?<\/strong> Ashish Dave, CFO of emerging markets focused PE giant Abraaj, has left the company. \u201cI resigned six months ago to spend time with my family and pursue other opportunities,\u201d he told Reuters on Sunday<\/a>. A new CFO, appointed from within the company, would be announced soon, one of the sources said.<\/p>\n

Two of the highest-profile Egyptians working in the global industry may also be leaving<\/strong>, Reuters adds, noting that three sources told them that \u201cMustafa Abdel<\/strong>\u2010<\/strong>Wadood<\/strong>, managing partner and global head of private equity, and Ahmed Badreldin<\/strong>, head of MENA private equity, informed Abraaj several months ago that they wanted to leave but were asked to stay on to help support the company during a difficult period.\u201d<\/p>\n

The firm is also considering a round of job cuts<\/strong>, the newswire notes. The exits by the executives comes a few weeks after<\/a> the firm announced a restructuring and management shuffle following reports of allegations of \u201cmisuse\u201d related to its USD 1 bn Abraaj Growth Markets Health Fund. The job cuts story was first broken last week in a Wall Street Journal<\/a> report that the firm \u201cmay cut its workforce as lenders and investors review their relationship with the firm and efforts to raise a USD 6 bn fund stall.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Is Abraaj going through a wave of defections? Ashish Dave, CFO of emerging markets focused PE giant Abraaj, has left the company. \u201cI resigned six months ago to spend time with my family and pursue other opportunities,\u201d he told Reuters on Sunday. A new CFO, appointed from within the company, would be announced soon, one […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-631219","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6b5a941f-6aef-4aff-8d92-6c35670bd677","order":"0","is_powered_by":true,"section_story_id":"079e5e5b-0935-43c8-a9d3-c38b4a07e81c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[631203],"teaser":"","voice_url":""},"yoast_head":"\nIs Abraaj going through a wave of defections? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/13\/is-abraaj-going-through-a-wave-of-defections\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Abraaj going through a wave of defections?\" \/>\n<meta property=\"og:description\" content=\"Is Abraaj going through a wave of defections? Ashish Dave, CFO of emerging markets focused PE giant Abraaj, has left the company. \u201cI resigned six months ago to spend time with my family and pursue other opportunities,\u201d he told Reuters on Sunday. 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