The company did not name a replacement for Macdonald.
Shuaa’s Chief Financial Officer Houssem Ben Haj Amor has been appointed as general manager, the firm said in a statement on Dubai’s bourse.
The company also announced the appointment of Karim Schoeib as CEO of Investment Banking, which includes Corporate Finance Advisory and Capital Markets. Schoeib, who has worked with the firm since 2005, has led a number of public transactions including IPOs and private placement transactions in various sectors in the UAE. Mr Schoeib has also led a number of cross border M&A transactions between the United Arab Emirates, Saudi Arabia, Qatar and Kuwait.
Amer Khan, who joined SHUAA as a senior member of the investment management team in 2008, has been appointed Senior Executive Officer of SHUAA Asset Management Ltd. Mr Khan manages the Arab Gateway Fund and Emirates Gateway Fund.
Jennifer Adams has been appointed Director of Operations, having recently lead the implementation of a new sales and trading platform at SHUAA. Ms Adams has over 20 years’ experience in the financial services industry having held strategic leadership positions at JP Morgan, Libertas Capital and Select Equity Group.
Michael Hewitt, previously Chief Executive Officer of Saffar Capital, a GCC focused investment and advisory firm, has been appointed Head of the Executive Office. Mr Hewitt has extensive experience in international banking and finance, including five years in Russia where worked for Deutsche Bank and as Deputy Director of NATO’s representative office to the Russian Federation.