Shuaa Capital, a Dubai-listed asset management and investment banking platform, has appointed Wafik Ben Mansour as acting chief executive officer following the resignation of Fawad Tariq Khan. Khan departed after nearly 18 months in the role, citing personal reasons, and will remain with the firm through a three-month notice period to ensure continuity.
Ben Mansour, who joined Shuaa in May 2023 as head of investment banking and leader of the company's advisory and capital markets platform, will now oversee the firm's capital optimisation process. Fadel Al Ali, chairman of Shuaa Capital, said the board welcomes Ben Mansour to the role and looks forward to working with him to deliver the next chapter of Shuaa's growth as the company pursues its capital restructuring plan. Ben Mansour pledged to prioritise excellent client service, sustainable growth and shareholder value while enhancing balance sheet efficiency.
Ben Mansour spent 15 years as a managing director at Credit Suisse, where he gained extensive experience in investment banking transactions across the Middle East and broader regions. He holds a Master in Finance from ESCP Europe in Paris and a Bachelor degree from Institut des Hautes Etudes Commerciales de Carthage in Tunisia. His career in regional investment banking includes leadership of high-profile transactions, including Omantel's USD 2.2 billion acquisition of a stake in Zain Group and ADQ's acquisition of Amoun Pharmaceutical.
Shuaa Capital was established in the UAE in 1979 and is headquartered in Dubai. The company operates as a leading asset management and investment banking platform serving institutional clients across the Middle East and North Africa. It provides corporate finance advisory, mergers and acquisitions services, private placements, equity and debt capital markets transaction services, and manages real estate funds and projects across public and private markets. The firm was incorporated into a transformational merger with Abu Dhabi Financial Group in 2019. In recent years, Shuaa has undergone substantial restructuring, including divestment of non-core assets and renegotiation of creditor obligations.
The appointment signals the board's confidence in Ben Mansour's ability to execute Shuaa's capital optimisation programme during a critical transition period. Ben Mansour's prior experience at Credit Suisse and his familiarity with Shuaa's business following his appointment as head of investment banking suggest the board seeks operational continuity and stability as the company navigates debt restructuring and positions itself for sustainable profitability. The timing reflects the firm's need for experienced leadership as it addresses legacy losses and seeks to establish a platform for future growth across the Gulf region.
