Dubai’s Arqaam Hires Mashreq Banker Hussain for Asset Managementby
Hussain formerly CEO of Mashreq Capital managing $1.5 billion
Arqaam exploring financing options amid expansion plans
Arqaam Capital Ltd., the Dubai-based investment bank focused on emerging markets, hired Abdul Kadir Hussain to set up and head its fixed income asset management division.
Hussain was previously chief executive officer of Mashreq Capital DIFC Ltd., where he set up and grew their asset management business over 10 years, Arqaam said in an e-mailed statement on Thursday. Hussain, who joined Mashreq in 2006, oversaw $1.5 billion across equity and fixed-income funds. He was also formerly a managing director at Credit Suisse Group AG.
Arqaam last year hired Rothschild to explore financing options as it seeks to expand into Saudi Arabia and Africa. The bank, present in five countries in the Middle East and Africa, has about $150 million of capital and may need extra financing for acquisitions, CEO Riad Meliti said in an interview in April 2015.
Arqaam in 2014 bought the infrastructure asset management business of Instrata Capital in Bahrain, which holds power generation and water desalination assets across the Gulf. It also bought El Rashad Securities Brokerage SAE in Cairo and acquired Libya’s Al Rashad Finance and Management Advisory to build a base in North Africa.