Dubai-based investment bank SHUAA Capital has named Walid Shihabi as new CEO of its brokerage division SHUAA Securities starting September 2010. He replaces Mohammed Ali Yasin, who will leave the company at the end of August 2010.

Mr Shihabi is re-joining SHUAA, having previously spent seven years at the firm as head of research and with over 12 years of experience in the region’s financial markets. He left SHUAA in 2009 to take a sabbatical, during which, he worked in a consulting capacity for a range of financial services institutions.

Prior to joining SHUAA Capital for the first time in 2001, Mr Shihabi was head of the research department at the Dubai-based brokerage firm Dubex Securities International.

Sameer Al Ansari, CEO of SHUAA Capital, said: “Walid Shihabi is a unique candidate for the position given his deep understanding of regional markets and first-hand experience of SHUAA Capital. The securities market landscape in the UAE is rapidly evolving and I am confident SHUAA Securities will continue to prosper as the region’s leading brokerage platform under Mr Shihabi’s leadership.”