The new business will be headed by Stewart Jack, one of the most experienced financial services executives in the region.
Jasper Capital was formed in 2002 and has developed an enviable track record for providing general consulting services in addition to corporate finance advisory services, thereby generating a wide network of contacts and brand familiarity in its primary markets, the UK and the Middle East. Transactions and advisory work includes strategic planning, business plans, business process reengineering, change management, performance analysis, acquisitions, debt and equity raising.
Jasper’s target market will initially be the Middle East. The financial services consulting market in this region has been dominated for many years by consulting businesses developed on the back of the major audit firms’ presence in the region. Following the recent rationalisation of this sector, there is currently no niche consulting group in the target market which has succeeded in becoming the consultancy of choice within the financial services sector.
Jasper’s new business will be headquartered in London. In addition to its office in Dubai, it also has plans to open further offices in the near future elsewhere in the GCC.
The new business will offer clients access to some of the most experienced consultants in the region. Operating totally independently of any supplier, Jasper does not operate on both the “buy” and “sell” side of the same transaction.
Stewart Jack, CEO of the new Jasper business said,
“I believe there are significant opportunities for providing niche financial services expertise delivered by career bankers with international exposure. I am excited by the opportunity to bring my banking, consulting and regional experience to the established Jasper team and I am looking forward to building an industry specific consulting practice.”
Jason Peers, Chief Executive of Jasper Capital, added, “We are delighted to have Stewart Jack join the Jasper management team. He brings country specific and strong financial services experience which, combined with that of his team, will provide the new Jasper business with a significant competitive advantage in the Middle East. Stewart and his team have had an excellent launch and have already been mandated and completed some assignments’’
Stewart Jack started his banking career in the UK and, after a period with Samuel Montagu, he relocated to the UAE in 1976 as Chief Accountant with Khalij Commercial Bank, the predecessor of Abu Dhabi Commercial Bank. After four years with National Bank of Abu Dhabi as Comptroller he joined Deloittes where he spent a number of years finally heading up the Deloitte Touche, Tohmatsu, IT and Banking Practice based in Warsaw. Following this, he was appointed Managing Director of Sanchez Computer Associates, a Philadelphia based banking software and services provider owned by Safeguard Scientific, a major venture and private equity fund.
Stewart has since worked on a number of assignments with other equity funds, one of which, Charlemagne Capital, invested in Eastern Europe banks. As Executive Director and Chief Operating Officer of Hebros Bank, Bulgaria, Stewart refocused the business and directed the whole change management, process and IT programs, resulting in the successful sale of the bank to Bank Austria Creditanstaldt. Stewart has also managed the development of an Islamic banking proposition to launch a bank focused on the retail, consumer and small and medium sized enterprise sectors in Europe in accordance with Shari’a law.
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