Mashreqbank said Robert Hahm will become head of asset management and chief executive officer of its Mashreq Capital DIFC unit, the business’s fourth head since June. Hahm, currently the fixed income senior portfolio manager at Mashreq Capital, will replace Christophe Pella who is leaving to pursue other opportunities, Mashreqbank said in an emailed statement on Tuesday. The Dubai-based lender is seeking regulatory approval for Hahm’s appointment, it said.
Pella, who joined Mashreq Capital in August, replaced Aamir Peracha who left the CEO role one month after being appointed. Peracha took over from Abdul Kadir Hussain who departed the bank in June after 10 years due to personal reasons.
Mashreq Capital oversees about $1.5 billion across equity and fixed-income funds. Its Active Sukuk Trading Fund is the third best-performing, dollar-denominated Islamic fixed-income fund globally over the past year, according to data compiled by Bloomberg. Mashreqbank in January reported a 20 per cent decline in full-year profit to Dh1.9 billion ($517 million) as provisions for bad loans climbed.