Dubai, United Arab Emirates, 25 July 2017: Rasmala Investment Bank Limited (‘RIBL’), the asset management and investment banking subsidiary of Rasmala Plc (‘Rasmala’), has recently further strengthened its management team, with the promotion of Eric Swats to Senior Executive Officer and the appointment of David Marshall as Head of Products.
Eric Swats, who joined RIBL in 2003, has over two decades of asset management experience through various assignments in New York, Zurich, London and Dubai. As of Head of Asset Management he played an instrumental role in building the asset management business and developing strong investment management capabilities in equities, credit, real estate and alternatives. In his new role as Senior Executive Officer, Mr Swats will be responsible for running RIBL and will report to Zak Hydari, Rasmala Group CEO.
Commenting on the appointment, Zak Hydari said: “I’m delighted to announce the promotion of Eric Swats to Senior Executive Officer of RIBL. Eric’s appointment is part of our broader strategy of promoting from within and delegating more authority to our subsidiary companies.”
RIBL has also appointed David Marshall as Head of Products with overall responsibility for the creation, management and distribution of RIBL’s investment services and products supported by a new business development team covering clients in the Middle East, Asia, Europe and the US.
Rasmala has recently acquired the remaining shares of its subsidiary, Rasmala Holdings Limited (‘RHL’) from the minority shareholders. As a result of these acquisitions, Rasmala’s total shareholding increased to 100%.
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Established in 1999, Rasmala is a leading investment firm engaged in asset management, investment banking and private equity. The firm provides investment management solutions to pension funds, family groups, corporations and government institutions. Rasmala Plc is authorised and regulated by the Financial Conduct Authority (“FCA”) and Rasmala Investment Bank Limited (‘RIBL’) is authorised and regulated by the Dubai Financial Services Authority (“DFSA”).