Rasmala's new executive chairman raises global profile

"Mr. Chalaby brings to Rasmala a wealth of experience in a number of different areas. His financial expertise will be invaluable to the company going forward, especially during this exciting time of rapid development and growth," said Founder and CEO of Rasmala Investments, Mr. Ali Al Shihabi.

Prior to joining Rasmala, Chalaby has been with Accenture for over 20 years. He has held senior positions within Accenture mainly as Managing Partner of Capital Markets and Managing Partner of Mergers & Acquisitions and Venture Capital businesses for Europe, the Middle East, Africa and India.

Accenture is the world's largest consulting company with a market capital of almost US$30 billion.

"As a seasoned executive with a strong connection to the Middle East, Chalaby will be instrumental in both managing and consolidating Rasmala's growth as well as preparing the company for its planned public listing,"

added Al Shihabi.

Alongside his leadership responsibilities, Chalaby served on Accenture's Executive Committee and its Global Leadership Council. He was also a senior member of Accenture's Venture Capital Investment Committee, which managed a $1billion fund.

"The liberalization of financial markets in the Middle East will witness a wave of mergers and consolidations," said Chalaby, who was attracted to the new appointment because of Dubai's rapid development as a major financial hub. "Rasmala is very well positioned to service this market as the Emirate and the entire region continue to grow," he added.

Chalaby says his key responsibilities will encompass the management and development of Rasmala's investment banking capabilities. "Our aim is to make Rasmala the premier investment bank in the region," he said. As chairman, Chalaby will spend most of his time between the company's offices in Dubai and London.

Rasmala focuses on asset management and investment banking. Rasmala's asset management team manages funds in global and Arab markets across all main asset classes, particularly hedge funds, equity and real estate funds. Its investment banking team sources and structures private equity and real estate investment opportunities, while also advising on the structuring and execution of mergers and acquisitions.

The company recently launched a brokerage subsidiary, Rasmala Financial Brokerage, which offers clients a platform to trade on the Dubai Financial Market.

With offices in Dubai, London and Amman, Rasmala combines global access with an intimate knowledge of the Middle East.