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Dubai-listed Shuaa Capital has announced the appointment of a new board member to take the seat of its resigned managing director.
Ahmed Alahmadi, formerly a senior investment manager at Abu Dhabi sovereign wealth fund ADQ and current CEO of Albaher Real Estate Development, will return to the board having previously served from November 2019 to November 2020.
He will replace Jassim Alseddiqi, who resigned earlier this month and reduced his stake in the company on resignation to 20.3%.
Educated at University College London (UCL) and Imperial College London and formerly a director of GFH Financial Group, Alahmadi is also a former employee of Rothschild & Co in Dubai and Abu Dhabi sovereign investor Mubadala.
He serves as an independent member of the audit and risk committee for Abu Dhabi Securities Exchange (ADX)-listed Presight AI Holdings.
Shuaa said in a statement to Dubai Financial Market (DFM) today that Alahmadi will sit on the board until term expiry in April 2024, subject to ratification by the company’s general assembly.
Group CEO Fawad Tariq Khan said: “We are pleased to welcome back Ahmed Alahmadi to the board of SHUAA Capital.
“His vast expertise, combined with his prior strategic engagements with our organisation, further solidifies and enriches the depth and breadth of our board’s capabilities.”
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
