Abdul Rahman Hareb is new Shuaa Chairman

Abdul Rahman Hareb Rashed Al Hareb, Chairman of Shuaa Capital (Supplied)

Shuaa Capital today announced the appointment of Abdul Rahman Hareb Rashed Al Hareb as chairman of the Board of Directors. He replaces Sheikh Maktoum Hasher Al Maktoum who held the position of Executive Chairman since May 2011.

Houssem Ben Haj Amor will continue as general manager of the company.

Al Hareb is an experienced banking professional, and serves as a non-executive director on the board of Emaar Properties, and as chairman of Dubai AeroSpace Enterprise Audit Committee. He is a senior member of the Dubai Holding management team where he currently holds the position of chief internal audit officer.

“I am honoured to have been asked to take on the role of chairman of Shuaa Capital. I regard the company as one of the most established financial services firms in the GCC,” said Al Hareb. “Shuaa has seen steady year-on-year growth across the business verticals, with all divisions performing well and generating recurrent revenues. Going forward we will continue to build on this solid business platform as the UAE economy continues to expand further.”

Shuaa recently announced a Dh25.8 million net profit for the full year 2014 and revenues of Dh213 million. The result was driven by strong gains recorded in the asset management, investment banking and SME lending divisions.

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