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MENACORP to boost UAE’s institutional investment appeal via strategic appointments


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2013-12-11 12:27:31 - UAE’s ‘emerging market’ upgrade on MSCI Index to draw substantial foreign institutional capital to local markets

December 11, 2013

MENACORP, the UAE’s leading brokerage house, has announced that it will leverage the bright outlook for institutional investments in the UAE and across the region by deploying key personnel to strategic positions at its Institutional Desk.

In June 2013 Morgan Stanley Capital International announced the upgrade of UAE to ‘emerging market’ status (effective May 2014) in a move reflecting the strong approval among the world’s institutional investors of the country’s surging stock markets. To expedite the influx of stable capital to local equities following this major market development, MENACORP is ramping up the resources and personnel of its Institutional Desk, a service dedicated to local, regional and foreign institutional investors. The Institutional Desk will initially be involved in the

Abu Dhabi Securities Exchange (ADX), Dubai Financial Market (DFM) and Nasdaq Dubai, with other MENA and international exchanges to follow to create a single efficient execution point for institutional investors.

In a strategic move to strengthen its institutional services in response to growing market needs, MENACORP recently appointed Issa Chami, the former Head of Institutional Sales at Mubasher Financial Services, to serve as the Head of the company’s Institutional Desk. Bringing with him over six years of extensive experience in institutional sales, Chami was formerly the Head of Institutional Sales at Mubasher Financial Services and began his career in the US with Merrill Lynch.

Since the beginning of the year MENACORP has been consistently topping the DFM and ADX in terms of trade value, with a client portfolio now exceeding AED 5.5 billion. To sustain its expansion, the company recently ramped up its sales force to 40 brokers – the largest team of its kind in the MENA region. The recruitment of Chami affirms MENACORP’s thrust towards building up the right team to address market trends and current needs.

“Conditions are ripe for the UAE to show its exceptional potential as a hub for global institutional investments. As we move towards the UAE’s new membership as an emerging market in the MSCI Index next year, the country is well-positioned to sustain the momentum of its growing popularity as a capital destination in light of key developments such as Dubai’s successful bid to host the 2020 World Expo. MENACORP’s extensive market reach will enable it to put the UAE on the spotlight across the region’s dynamic trading activities in the coming year and beyond,” said Chami.

Chami will work in collaboration with Hisham Khairy, Head of Trading at MENACORP’s Institutional Desk. He will be reporting directly to Nabil Al Rantisi, Managing Director for Brokerage at the company.

“Issa and Hisham are two well known and respected professionals in our industry. Clients appreciate their in-depth market knowledge and trust their judgment. We have the perfect pair to tackle the challenges posed by fast-growing demand from institutional clients. By having onboard professionals of this caliber, we will be able to help reinforce the renewed trust institutional investors have on our markets,” concluded Al Rantisi.


Contact Information:
Orient Planet PR & Marketing Communications

Abu Dhabi,U.A.E.

Contact Person:
Bassam Fakih

Phone: 0097124418995
email: email

Web: www.orientplanet.com



Author:
Mae Fuentebella
e-mail
Web: www.orientplanet.com
Phone: 0097144562888

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