{"id":89775,"date":"2024-03-07T00:00:00","date_gmt":"2024-03-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/shuaa-capital-apex-investment-see-more-resignations-united-arab-bank-has-a-new-chairman\/"},"modified":"2024-03-07T00:00:00","modified_gmt":"2024-03-07T00:00:00","slug":"shuaa-capital-apex-investment-see-more-resignations-united-arab-bank-has-a-new-chairman","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/03\/07\/shuaa-capital-apex-investment-see-more-resignations-united-arab-bank-has-a-new-chairman\/","title":{"rendered":"Shuaa Capital, Apex Investment see more resignations + United Arab Bank has a new chairman"},"content":{"rendered":"

We have news of several resignations from two asset management firms in the UAE<\/strong>, and a new chairman for United Arab Bank. <\/p>\n

Shuaa Capital<\/a><\/strong>accepted the resignation <\/strong>ofits group chief legal and compliance <\/strong>officer Bashir Al Nawar<\/strong>(LinkedIn<\/a>), giving him two more months at the company, according to a DFM disclosure (pdf)<\/a>. The announcement comes one week<\/a> after news of the resignation of its head of private markets, Ajit Joshi (LinkedIn<\/a>). <\/p>\n

Refresher: <\/strong>The company \u2014 which has seen net losses deepen<\/a> more than fivefold over the past year \u2014 also sawCFO Gunshyam Kripa resigning earlier in January (pdf)<\/a>, after seven months in the position, along with board members Andr\u00e9 George Sayegh<\/a>(pdf)<\/a>, and Maha AlQattan (pdf)<\/a> for \u201cpersonal reasons.\u201d <\/p>\n

ADX-listed holding company Apex Investment<\/a><\/strong>appointed Hamad Al Shamsi<\/strong>, Futoon <\/strong>Hamdan Al Mazrouei<\/strong>, and Saje Thomas<\/strong> as board members<\/strong>, after approving the resignations of former board members Mansour Al Mansouri and Issa Khoury in February<\/a>, according to an ADX disclosure (pdf)<\/a>.<\/p>\n

REMEMBER-<\/strong> The company posted a net loss<\/a> of AED 58.4 mn and an 11.8% y-o-y drop in revenues to AED 723.5 mn in 2023.<\/p>\n

\n

\n

United Arab Bank <\/strong>has tapped Mohammed Bin Faisal Al<\/strong> Qassimi<\/strong>as itschairman<\/strong>, and Omar Hussain Al Fardan<\/strong> as its vice chairman<\/strong>, according to an ADX filing (pdf)<\/a> 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)<\/a> .<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Asset management firms Shuaa Capital and Apex Investment have seen several resignations over the past few months<\/p>\n","protected":false},"author":1,"featured_media":89776,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[1549],"tags":[728,7,33,217,1005],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-moves","tag-apex-investment","tag-enterpriseam-uae","tag-moves","tag-shuaa-capital","tag-united-arab-bank","wpautop","entry"],"acf":{"mongo_id":"8e67bef6-7d9f-4dbb-a4c4-4d8345b6f6d4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/568.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Shuaa Capital, Apex Investment see more resignations + United Arab Bank has a new chairman","related_issue":[89760],"teaser":"Asset management firms Shuaa Capital and Apex Investment have seen several resignations over the past few months","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.ac1556a3-0e36-4de0-8a36-fdfcf2b05930.mp3"},"yoast_head":"\nShuaa Capital, Apex Investment see more resignations + United Arab Bank has a new chairman - 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