SHUAA Capital appoints Dr. Sabah ai-Binali as Vice Chairman of Gulf Finance

SHUAA Capital, the leading financial services institution in the GCC region, announced today that it has appointed Dr. Sabah Hamad ai-Sabah ai-Binali as Vice Chairman of its wholly owned credit finance unit, Gulf Finance Corporation PSJC (’Gulf Finance’) with immediate effect.

Commenting on this appointment, His Highness Sheikh Maktoum Hasher AI Maktoum, Chairman of SHUAA Capital and Chairman of Gulf Finance said: "We are pleased to welcome a distinguished professional like Dr. ai­ Binalito the Board of Gulf Finance. Dr. ai-Binali’s addition to the SHUAA team will help us enhance our credit business locally and grow it regionally in line with our new strategy."

Michael Philipp,Chief Executive Officer of SHUAA Capital said:"Gulf Finance has consistently generated a profit throughout the economic cycle and is looking to take the next step in its growth plan. This entails diversification of the credit portfolio and geographic expansion starting with Saudi Arabia. Dr. ai-Binali consequently joins the business at a moment when his vast experience, business development skills and regional network will prove invaluable to further develop this business."

Dr. Sabah ai-Binali, the new Vice Chairman of Gulf Finance, commented: "It is a privilege for me to join Gulf Finance. Building on its over 10 year track record of successful innovation in finance, Gulf Finance is in an excellent position to provide access to capital for corporates in the region."

Dr. ai-Binali’s experience includes founding and overseeing regional financial services companies. He served as Chairman of Zawya for ten years and three years as founding Managing Director of Credit Suisse Saudi Arabia. Prior to joining Gulf Finance, Dr. ai-Binali was Principal and Chief Investment Officer of Saffar, a position he held since May 2007. Saffar, which Dr. ai-Binali helped found,is a financial services company specializing in growth stage private equity opportunities throughout the Middle East. Prior to co-founding Saffar in 2001, Dr. ai-Binali was Head of Treasury & Investments at Union National Bank. He holds a B.S.E. in Computer Science from Princeton University, and a Ph.D. in Computational Finance from Columbia University. He was trained at J.P. Morgan & Co.in New York.

Emirate:  Dubai

Date: Jan 16, 2012

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