Shuaa Capital has named Michael Philipp as its chief executive officer and a member of the board of directors, effective immediately.

Philipp replaces Sameer Al Ansari who has stepped down from the position.

Sheikh Maktoum Hasher Al Maktoum, chairman of Shuaa Capital, said: “Michael has a proven track record of success and is a globally recognised leader in the investment banking and asset management industry; his extensive experience arms Shuaa Capital with an unparalleled scope of credibility and leadership.

"The appointment comes at a time of strength and opportunity for Shuaa. Michael will be instrumental in accelerating our revenue enhancement program, executing our growth strategy and enhancing our delivery of performance for clients and shareholders."

Before joining Shuaa Capital, Philipp was a member of the group executive board of Credit Suisse from 2005 to 2008 as well as chairman and chief executive officer of Credit Suisse Europe, Middle East and Africa. During his tenure, he expanded Credit Suisse's commitment to Emerging Markets, particularly in the Middle East and Africa.

From 2000 to 2007, Philipp was on the advisory board of the Dubai International Financial Center (DIFC) and the executive board of the Dubai International Financial Exchange (now Nasdaq Dubai).

Michael Philipp is currently chairman of Reykjavik Geothermal, a geothermal power development company based in Iceland. He holds a BA in Fine Arts, an MBA in Finance, and an honorary PhD from the University of Massachusetts. - TradeArabia News Service