Menacorp’s Al-Jaouni Leaves to Start Asset-Management Company

  • JRS to hire 5 people as it plans offices in Dubai, Riyadh
  • New firm to focus on private equity, real estate in MENA, EU

Samer Al-Jaouni, head of institutional business at Abu Dhabi-based financial services company Menacorp, resigned to start a new asset-management company in Dubai.

The new firm, JRS Investment, plans to add five to six people including two analysts to cover equities and fixed income, Al-Jaouni said in a phone interview Tuesday. The company is backed by investors from Saudi Arabia and Qatar, he said without identifying them, and will start operating in about one month, he said.

“It’s a really good time to buy stocks,” Al-Jaouni said. “The potential is really good, especially in the Saudi market where we are seeing prices that we have not seen in a long time.”

In addition to portfolio management, the firm will also focus on private equity and real estate in the Middle East, North Africa region as well as Europe. An initial plan to set up an office in London was changed after the U.K. voted to leave the European Union and JRS Investment will set up its European office in France or Germany, he said.

Menacorp hired Al-Jaouni as head of institutional business focused on equities trading in July 2015. Before that, he was head of institutional brokerage and assistant general manager at Aljazira Capital Co. in Saudi Arabia.

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