Abu Dhabi-based Menacorp hires new head of institutional business

Menacorp, an Abu Dhabi-based financial services company, hired Samer Al-Jaouni as head of institutional business focused on equities trading.

He’ll start with Menacorp next week and be based in Dubai, he said in a phone interview on Monday. Mr Al-Jaouni will help to build relations with brokers across the region, especially in Saudi Arabia and Qatar, amid tumbling volumes on Dubai’s stock market.

“It’s a tough market here,” Mr Al-Jaouni said. “But we will be focusing on regional markets especially Saudi Arabia, where we see a lot of interest from institutions since the market opened to foreign investors.”

Mena Corp Financial Services was ranked first among 49 brokerages by value traded on the Dubai Financial Market in 2015, according to bourse data.

Mr Al-Jaouni worked as head of institutional brokerage and assistant general manager at Aljazira Capital since February 2013. He helped the investment arm of Saudi Arabia’s Bank Al-Jazira build its swap trading business, he said.


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