Shuaa ropes in veteran banker
Dubai , October 2, 2011
Shuaa Capital, a leading financial services institution in the region, said it has appointed Michael Philipp, a veteran in the banking industry, to its board of directors.
The appointment, which comes in the wake of a vacancy on the board, brings the total number of the board members to eight, said a Shuaa press release.
Philipp was earlier chairman and CEO of Credit Suisse Europe, Middle East and Africa, and also served as a member of the group executive board of Credit Suisse.
He joined Credit Suisse from Deutsche Bank, where he was a member of the board of managing directors responsible for the MEA region.
At Deutsche Bank, he held a number of senior management positions, including that of chairman and CEO of Deutsche Asset Management, with responsibility for over $600 billion of client assets, said the press release.
Prior to joining Deutsche Bank, Philipp spent over a decade at the forefront of the rapidly expanding global futures and options industry.
At Goldman Sachs, he held a variety of positions in Fixed Income and the Futures Services Departments; and at Merrill Lynch he was the global head of Futures and Options.
Philipp is currently chairman of Reykjavik Geothermal, a geothermal power development company based in Iceland.
He is also the managing partner of Ambata Capital Partners, an international advisory and investment firm based in New York, Atlanta and San Francisco.
Sheikh Maktoum Hasher Al Maktoum, chairman of Shuaa Capital board, said: “Philipp is a globally recognized leader in the investment banking and asset management industry; he is an excellent addition to our board.'
'We look forward to benefitting from Philipp’s experience as we focus on enhancing Shuaa’s position as a regional leader in financial services,' he added.-TradeArabia News Service