Investment banking and asset management firm Shuaa Capital will launch a digital wealth platform in the UAE to serve existing clients as well as the “next generation of investors”.
The platform aims to provide customers with a digital wealth management offering via technologies such as AI and machine learning.
It will also “build its own product capabilities while drawing on Shuaa’s asset management and investment proposition”, the firm said.
The company added that it “identified a significant market opportunity to create a hybrid digital wealth platform that provides personalised curated management and advice”, as millennial, high net worth and affluent investors are “significantly underserved”.
Jassim Alseddiqi, group chief executive of Shuaa, said: “Our intention to launch a new digital wealth platform is in line with our increasing focus on technology, which, as we have previously indicated, will be one of Shuaa’s top priorities going forward.
“This includes transforming our asset and wealth management capabilities and client experience in ways we have never done before. At the same time, we have identified a gap in the market for an innovative digital wealth offering that integrates best-in-class advisory services, execution and cutting-edge technology.”
Hire
To steer the company’s tech proposition, Shuaa has appointed Hadi Raad in the newly created role of chief digital officer.
Raad joins from Visa, where he served as vice president and regional head of digital solutions for the central Europe, Middle East and Africa region.
He will be responsible for building and leading fintech, driving product innovation and development, digital user experience design, fintech partnerships and the digital wealth management platform.
Alseddiqi added: “We are delighted to bring Hadi on board to drive this exciting digital wealth proposition, with his in-depth experience of developing innovative solutions that have been instrumental in empowering digital ecosystems. Together, I am confident that Shuaa can address this significant opportunity and create an unparalleled digital wealth platform.”
