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Mon 22 Aug 2016 02:19 PM

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Mashreq Capital CEO said to quit after just a month

Aamir Peracha reportedly leaves role at bank's asset management unit

Mashreq Capital CEO said to quit after just a month
(Image: SOM)

The CEO of Dubai-based Mashreq’s asset management unit has reportedly left the role just a month after being appointed.

Bloomberg reported on Monday that Aamir Peracha had left the position with Mashreq, Dubai's third-biggest lender by assets, citing two people with knowledge of the matter.

Peracha, who was named CEO of Mashreq Capital DIFC Ltd in June, left last month, the people said without giving a reason for his departure, Bloomberg said.

Mashreq Capital oversees about $1.6 billion across equity and fixed-income funds.

Peracha replaced Abdul Kadir Hussain, who left in June for personal reasons after 10 years at the bank.

Peracha was earlier managing director and head of equities and derivatives.

Mashreq last month posted a 16.1 percent fall in second-quarter net profit as impairments for bad debt more than doubled and fee and commission income edged lower.

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