News

Mashreq Capital gets second chief in three months

Handshake1Mashreq Capital has appointed Christophe Pella as chief executive, replacing Aamir Peracha, who left after about a month in the job.

Pella joins from Legal & General Investment Management in London, where he was a global rates portfolio manager. His appointment is subject to regulatory approval.

The bank has not explained the short tenure of Peracha, who was head of equities and derivatives at Mashreq before taking over from Abdul Kadir Hussain as chief executive of the asset management arm in June.

Hussain left Mashreq Capital after working there for about ten years, originally in the fixed income department. Speaking to Funds Global MENA in 2014, he said the growth in the firm's fixed income assets gave him most satisfaction.

Mashreq, which means "place of sunrise", refers to the part of the Arab world east of Egypt, and is a companion term to Maghreb, which refers to north Africa.

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