LONDON, DUBAI: Dubai Holding appointed Amit Kaushal as chief executive officer, replacing Edris Alrafi who left the investment firm after less than a year.

Kaushal was previously chief financial officer at the conglomerate that manages about $35 billion (Dh129 billion) of assets, according to an emailed statement. He was also senior vice president of funding and treasury management at property developer Meraas Holding. The statement didn’t provide a reason for Alrafi’s departure.

Kaushal joined Meraas from Goldman Sachs Group and previously worked at UBS Group and Deutsche Bank in London and Dubai, according to information on Dubai Holding website. It’s not clear who will replace Kaushal as CFO.

Dubai Holding, which owns Dubai Properties Group and hotel operator Jumeirah Group, is one of three main state holding companies in the emirate, according to information on its website.

Alrafi, who was formerly chief commercial officer at Meraas, was appointed as CEO of Dubai Holding in April last year, replacing Fadel Al Ali. He joined as Dubai Holding as it focused on a new organisational structure and debt management programme, according to a statement at the time.

— Bloomberg