South Korea-based Mirae Asset Global Investments is foraying into the Middle East and North Africa region by setting up a new distribution team.
As part of the expansion strategy, Mirae has appointed Jad Shams, former director of Natixis Global Asset Management, as new head of sales for the MENA region.
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In his new role, Shams will be based in London and will build the firm’s sales distribution network across the MENA region mainly focusing on the institutional and intermediary investor sectors.
Additionally, Shams will be responsible for the business development and distribution of the Mirae Asset Global Discovery Fund, a Luxembourg-domiciled Sicav umbrella, into the Middle East.
The fund, which is registered for sale in over 12 countries, will allow investors to choose between one or more sub-funds which offer different investment objectives.
A sham, with over12 years experience serving the Gulf market, has most recently served as senior investment adviser at Credit Agricole Asset Management in Abu Dhabi and a vice president at Deutsche Asset Management in Frankfurt.
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By GlobalDataMirae Asset currently has US$60.1 billion (44.3 billion) of assets under management.
