Abu Dhabi's Waha Capital names new managing director

Abu Dhabi-based investment company Waha Capital has appointed board member Mohamed Hussain Al Nowais as its new managing director, the firm said in a statement filed to the Abu Dhabi Securities Exchange.

In addition to being a board member of Waha Capital, Al Nowais is the chairman and managing director of Tama Investment & Development LLC.

The statement noted that the move follows a decision by Waha’s board to part ways with current MD Michael Raynes “as the company pursues a new path of growth.”

Previously, Al Nowais held roles at the Abu Dhabi Investment Authority (ADIA) and JP Morgan in New York.

“Mohamed Al Nowais has been appointed as managing director to support Waha Capital as the company moves ahead with a growth strategy designed to further develop a solid diversified business,” Waha chairman Waleed Al Mokarreb Al Muhairi said.

“Through his work on the board, he has a strong knowledge of the company’s operations, and is focused on continuing to create sustainable value for our investors and other key stakeholders. I would like to thank Michael Raynes and wish him success in his future endeavours,” he added.