Oasis Leasing names new shipping director

The creation of the new position follows a statement from the company chairman earlier this year that Oasis intended to strengthen its presence in the shipping sector.

Boussaid will be responsible for investments in shipping assets such as tankers, bulk and container vessels as well as other strategic marine opportunities. His appointment became effective on April 1st 2007.

"We believe that the marine leasing sector in the UAE and the Middle East holds great potential for Oasis. The economic growth and diversification taking place in the region in general, and particularly in Abu Dhabi, is certain to result in greater demand in the sector, and Oasis has the expertise and ability to leverage this opportunity,"

Chairman HE Hussain Al Nowais said.
Boussaid has several years of experience in the marine leasing sector having worked for a leading marine lessor in New York, managing global accounts of the world's largest shipping carriers. In addition, he was a resident vice president of Citigroup Corporate & Investment bank's EMEA team, covering transportation and energy sectors.

Boussaid obtained an MBA in Finance and International Management from the University of Rochester, New York in 2004. He has also completed several supplementary management and development programs.

In February, Oasis announced a plan to restructure as a holding company and create two private joint stock companies—one of them Oasis Leasing and the other Oasis Capital—as subsidiaries. The plan is pending regulatory and shareholder approval.