Shuaa Capital, the Dubai-based investment bank, said its chief executive officer Colin Macdonald will be leaving the group upon expiry of his contract on Tuesday.

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.

A company press statement said Karim Schoeib has been appointed as the 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, it said.

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. 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.

Michael Hewitt, previously chief executive officer of Saffar Capital, a GCC focused investment and advisory firm, has been appointed head of the Executive Office. Hewitt has extensive experience in international banking and finance.

“The company is now in the next phase of its strategic development and we are gearing up to capture new revenue opportunities in the GCC. These senior appointments will accelerate revenue growth in 2014 and beyond,” said  Sheikh Maktoum Hasher Al Maktoum, executive chairman of Shuaa Capital. “We believe that the breadth and depth of the senior appointment’s technical expertise, operating experience and origination capabilities will enable us to benefit from growth opportunities emerging across the GCC.”

Shuaa intends to make further senior appointments to deepen its management team in the near future, it said. - Reuters and TradeArabia News Service