DUBAI, UAE, October 6, 2012 /PRNewswire/ --
- HE Mohammed Al Shaibani unveiled new SHUAA branding at event attended by prominent government officials, CEOs of banks and captains of industry and major shareholders
- New branding accompanied HH Sheikh Maktoum bin Hasher Al Maktoum, Executive Chairman of SHUAA's presentation of Company's strategic, operational and financial roadmap
- Sheikh Maktoum: "I am very pleased with the reaction of the business and financial community. In less than 18 months we have been able to restructure SHUAA, initiate the transformation into a client-centric, full service financial services platform and return to a growth trajectory."
SHUAA Capital psc today officially launches its new logo to the public, following its unveiling at a private event attended by prominent government officials, CEOs of banks and major shareholders. As the guest of honour, HE Mohammed Al Shaibani, Director General of the Dubai Ruler's Court; Vice Chairman of The Supreme Fiscal Committee of Dubai and the CEO & Executive Director of the Investment Corporation of Dubai unveiled the new branding alongside HH Sheikh Maktoum bin Hasher Al Maktoum, Executive Chairman of SHUAA.
Commenting on the introduction of the new SHUAA branding, Sheikh Maktoum said: "SHUAA has been here since 1979 and is here to stay. The new brand represents the new strategy and culture of SHUAA as well as highlighting the Company's transformation into a client-centric provider of full integrated investment banking services. Launching our new logo today is a clear signal that we are now confident of increasing our visibility in the marketplace."
At the event, HH Sheikh Maktoum bin Hasher Al Maktoum led the audience through SHUAA's strategy presentation. In particular, Sheikh Maktoum highlighted the completion of SHUAA's successful restructuring programme and the establishment of the new Credit division. He also provided insight into SHUAA's new operating model and the transformation into a client-centric, full service financial services platform, building on its history in asset management, investment banking and capital markets. Finally, His Highness emphasized that SHUAA expects to deploy its strong balance sheet to capture growth opportunities and return to sustainable profitability.
SHUAA received widespread endorsement for its new strategic, operational and financial roadmap, especially for the launch of its new Credit division. The Credit division will establish SHUAA's position as a leader in the regional credit arena for both regional and global clients. The Credit division will constitute three main business pillars.
- Commercial Lending offers liquidity for SMEs who contribute over 50% to the UAE's Gross Domestic Product (GDP), provide over 80% of employment in the UAE but only receive 4% of bank financing.
- A new Credit fund that will allow investors to participate in the UAE's economic growth story other than just publicly listed stocks, who are not fully representative of the UAE's strong real economy.
- Debt advisory for SMEs, family businesses and large family-owned conglomerates on the restructuring of their balance sheets and providing advisory on long term funding strategies.
Credit is a new way to introduce SHUAA's full service investment banking platform to SMEs and family conglomerates that require help unlocking often illiquid assets and providing a vital source of funding. It can be expected that this will create synergies with other parts of the business offering services such as discretionary portfolio management, and corporate finance and M&A advisory. SHUAA also expects to help Credit clients with their IPOs when equity markets recover.
HH Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of SHUAA said: "I am very pleased with the reaction of the business and financial community, and the feedback from our stakeholders. In less than 18 months we have been able to restructure SHUAA and return to a growth trajectory. This is an incredible achievement. I am confident enough in our strategy to start issuing market guidance which sees us in the black in 2013. We have a clear strategic vision and are on track to re-emerge as the region's preeminent investment banking platform."
Before unveiling its new branding SHUAA reminded the audience that it traces its roots back to 1979 when it was established by Emiri Decree number 6 of HH Sheikh Rashid Al Maktoum. HH Sheikh Rashid Al Maktoum who initiated many far-sighted infrastructure projects including Dubai Airport, Port Rashid and the Dubai World Trade Center, founded the Arabian General Investment Corporation (AGICO) as a Pan-Arab investment company. Initially, AGICO pooled capital from regional Chambers of Commerce and invested it across the region - similar to sovereign wealth funds today.
As the private sector in the region evolved, SHUAA emerged into one of the main pillars of the Arab region's financial infrastructure, filling the vital economic purpose of financing growth for SMEs and entrepreneurs where traditional banks could not. As the evolution of Dubai increased its pace and attained global prominence under the leadership of HH Sheikh Mohammed bin Rashid Al Maktoum, SHUAA became the first institution to promote the UAE and broader GCC region as a destination for investment, rather than just a source.
Notes to editors:
SHUAA's new logo aims to reposition and better represent its current leadership in the financial sector with SHUAA's shareholders, clients, employees and the global financial community. The new branding adds gold, representing excellence, to the modernized blue font. In addition, the icon has been rotated which underscores the strategic shift of the Company and the name 'Capital' was dropped to streamline the overall brand. Central to the new logo are gradually growing circles depicted next to the name SHUAA, which, when combined, show an arrow pointing to an upward trend. The new logo stands for excellence, trust, and continuity. SHUAA's new brand is an evolution, not a revolution. It reflects SHUAA's integrated business model and approach to deliver the best of SHUAA to clients.
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SOURCE SHUAA Capital psc