Jassim Alseddiqi named Shuaa managing director, Fawad Tariq Khan becomes CEO

Dubai fund manager Shuaa Capital announced that Jassim Alseddiqi has taken on a Board position within the group as Managing Director.

Alseddiqi, who has been the CEO of Shuaa, will be succeeded in the role by Fawad Tariq Khan, who will also retain his current title of head of Investment banking. Alseddiqi will continue to work closely with Khan and the company’s senior management team to ensure a seamless transition.

Alseddiqi was “instrumental” in charting a new course for Shuaa when he took over as chairman of the investment bank, which struggled with losses until 2017, said the company in a statement.

In 2019, he led the complex reverse merger between Shuaa and ADFG to create a business with both an asset management and investment banking platform to diversify its revenue streams.

“Jassim’s leadership has been instrumental in consolidating Shuaa’s position as one of the largest and most profitable investment banking and asset management firms in the UAE and across the MENA region,” said Fadel Al Ali, Chairman of Shuaa Capital.

“His commitment to creating shareholder value has driven the group’s strategy and success for more than a decade and will continue to serve as a guiding light for the company. We look forward to continuing to benefit from his knowledge, experience, and counsel,” said Ali.

Alseddiqi founded Abu Dhabi Capital Management, an alternative asset manager, as ADFG was then called, in 2011. After launching the region’s first secondary private equity fund, he followed up with successful investment strategies in alternative debt, a public market fund (Goldilocks), the acquisition in 2013 of Northacre Plc, a UK-listed real estate developer, and a 48 per cent controlling stake in Shuaa in 2016.

Alseddiqi remains Shuaa’s largest shareholder with a 29.9 per cent stake. He is also the Chairman of Salama Insurance and Eshraq Investments.