Mr. Saad joins Rasmala from AB Capital, the investment banking subsidiary of Arab Bank, where he served as the Founding Chief Executive Officer. Prior to that, he established SHUAA Partners, the private equity arm of SHUAA Capital. Mr. Saad also had a distinguished career in private equity in the US which included senior management positions at Allied Capital and The Carlyle Group.
Mr. Saad has an MBA from the MIT Sloan School of Management and holds Master’s and Bachelor’s degrees in Electrical Engineering and Computer Science from MIT.
Commenting on the appointment, Ali al Shihabi, Founder and Chief Executive of Rasmala, said: “We are very pleased to have Mr. Saad, a highly regarded and experienced Private Equity executive, head our Private Equity team. We are confident that he will help build on Rasmala’s regional success to date.”
Mr. Saad will launch Rasmala’s second Private Equity Fund this year. This follows the successful closing of the Rasmala Private Equity Fund I in early 2007.
Tamer Bazzari, previously Head of Private Equity, has recently become Head of Principal Investments, where he is responsible for deploying Rasmala’s capital in strategic and financial investments.