SHUAA Capital, the UAE-based financial services firm, on Sunday announced that Sheikh Maktoum Hasher Al Maktoum will be stepping down as executive chairman and as board director in February 2015.
Sheikh Maktoum will work with the board of directors to ensure a smooth transition, according to a company statement.
He has presided over the company since May 2011 successfully turning the company around and positioning it for growth, the statement added.
"During the last three years he has transformed SHUAA into a sustainable company where all business lines are profitable, the balance sheet is strong, costs are well managed, legacy assets have been largely sold and the company is well positioned for the current market cycle," the company said.
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