Dubai’s Shuaa Replaces Finance Chief Days After Naming New CEO - Bloomberg
Shuaa Capital PSC, which oversees nearly $14 billion in assets, has replaced its finance director two days after the Dubai-based firm named a new chief executive officer.
Group Chief Financial Officer Joachim Mueller will depart after almost four years in the role, the company said in a statement on Friday, confirming a Bloomberg News report. Gunshyam Kripa, who has been with the firm for about six years -- most recently as senior vice president of financial control -- has been named as his successor.
Head of risk management Shabana Osmani, who worked at Morgan Stanley for seven years before joining Shuaa in July, is also leaving, people familiar with the matter told Bloomberg earlier.
The firm has cut jobs across departments over the past few weeks, the people said, asking not to be identified as the matter is private. It wasn’t immediately clear how many people have left. Representatives for Shuaa didn’t immediately respond to requests for comment.
“We have hired more than 20 financial services professionals since the beginning of the year and plans to hire more,” the company said in the statement. “This process also includes certain redundancies.”
Earlier this week, Jassim Alseddiqi, Shuaa’s largest shareholder with a 29.9% stake, stepped down as CEO to take on a new role as managing director. He was replaced by Fawad Tariq Khan, who will retain his current position as head of investment banking.
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