As part of its expansion, Mirae has hired Jad Shams, former director of Natixis Global Asset Management, for a newly created role of head of MENA sales.
Based in London, Shams will be responsible for building the firm’s sales distribution network across the MENA region. Initially, the sales effort will focus on the institutional and intermediary investor sectors.
Shams will lead 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 more than 12 countries, operates as an ‘umbrella fund’, enabling investors to choose between one or more sub-funds which offer different investment objectives.
Shams has more than 12 years experience serving the Gulf market across all client and product types. He has also worked as senior investment adviser at Credit Agricole Asset Management in Abu Dhabi and a vice president at Deutsche Asset Management in Frankfurt.
Mirae Asset Global Investments Group which has a presence in 12 countries, including Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the UK, USA and Vietnam had assets worth $60bn (£36bn ) at the end of October.
