Gulf Finance Corporation to add new Board Member
- United Arab Emirates: Tuesday, February 05 - 2013 at 15:43
- PRESS RELEASE
Gulf Finance Corporation, a subsidiary of SHUAA Capital and a leading UAE-based finance company servicing the region's Small and Medium sized Enterprises (SMEs) community, announced that Colin Macdonald, Group Chief Executive Officer of its parent company SHUAA Capital psc and former Group Managing Director and Regional Head of ABN AMRO Middle East, is to be appointed to the company's board of directors, taking the board's size from 5 to 6 members, after receiving the necessary regulatory approvals.
Mr Macdonald currently serves as Group CEO of SHUAA Capital, a leading independent regional full-service financial investment company specialising in Asset Management, Investment Banking advisory services, and Credit. Over the last thirty years, SHUAA has played a prominent role in shaping the financial services landscape in the GCC and continues to be at the forefront of integrating the region into global financial markets. SHUAA is a public shareholding company, regulated by the UAE Central Bank and listed on the Dubai Financial Market.
Previously, Mr Macdonald was Group Managing Director and Regional Head of ABN AMRO Middle East where he was responsible for all business units in the region, including Private, Corporate and Investment Banking and Retail. During his almost 16 year tenure at ABN AMRO, Mr Macdonald held various senior positions, in origination and Global Head of Financial Markets Advisory as well as Chief Operating Officer of Global Clients and Global Corporate Finance. He joined ABN AMRO from Lawson Mardon Group where he was European Treasury Manager.
Mr Macdonald started his banking career at National Westminster Bank where he was instrumental in the business review, strategy and the integration of corporate banking, capital markets, equities and treasury during the formation of Natwest Markets.
"Colin brings a wealth of banking experience as well as the insights that come from running a successful multinational bank in a growing yet challenging region such as the Middle East. He will be a great addition to our board," said Steve Williams, Gulf Finance Group Chief Executive Officer.
"I am honoured to join the Gulf Finance board and work with this exceptional team," Macdonald said. "Gulf Finance has been successfully confirming its position as a pioneering financial institution in the region over the past few years. It has lent more than a billion Dirhams to the UAE's SME community during the last 3 years and plans to significantly extend these funding lines going forward as demand continues to grow. I look forward to sharing my experiences and contributing to the future direction and growth of this regional leader."
Mr Macdonald is an Honours graduate in Business Finance, a London Business School Alumnus and recently became a Certified Professional Director through the Institute of Directors.
In addition to Colin Macdonald, Gulf Finance's board of directors consists of His Highness Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHUAA and Chairman of the Board of Gulf Finance; Dr Sabah al-Binali, Vice Chairman of Gulf Finance; Hesham Al Qassim, Vice Chairman of Emirates NBD Bank; Steffen Schubert, CEO of Anapix Capital Ltd; and John Blanthorne, former Executive Director for HSBC Middle East.
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