New Shuaa Securities chief targets growth

Walid Shihabi to start in Sept; says 'tremendous avenues for growth' available to finance firm.
New Shuaa Securities chief targets growth
By Andy Sambidge
Mon 05 Jul 2010 03:16 PM

Shuaa Capital on Monday announced the appointment of Walid Shihabi as head of Shuaa Securities starting September.

Shihabi’s appointment follows the departure of Mohammed Ali Yasin at the end of August.

Shihabi is re-joining Shuaa, having previously spent seven years at the firm as head of research, the company said in a statement posted on the Dubai Financial Market website.

Shihabi said: “It is with great excitement that I look ahead towards taking responsibility for one of the truly outstanding brands in the region’s securities trading market.

"I believe there remain tremendous avenues for growth available to the company, and I am truly privileged to be in this position to help guide the company to further success, after having participated in building it into one of the largest and most respected investment banks in our region.”

Sameer Al Ansari, CEO of Shuaa Capital, added: “Walid Shihabi is a unique candidate for the position given his deep understanding of regional markets and first-hand experience of Shuaa Capital.

"The securities market landscape in the UAE is rapidly evolving and I am confident Shuaa
Securities will continue to prosper as the region’s leading brokerage platform under Mr Shihabi’s leadership.”

Last year, Shuaa ranked as the second largest broker in the UAE with a market share of 5.27 percent.

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