Shuaa Capital, the asset management and investment banking platform announced its intention to launch a new Digital Wealth Platform to serve existing clients as well as the next generation of investors. To steer the company’s innovative and ambitious digital proposition, which will operate as an independent fintech platform, Shuaa has appointed ex-Visa and Google alumnus, Hadi Raad, in the newly created role of Chief Digital Officer.
Shuaa’s new fintech is being created with the aim of providing investors with a seamless and holistic digital wealth management experience that leverages new technologies such as artificial intelligence and machine learning to elevate the traditional personal curated management and advisory experience to a whole new level. The new Fintech will build its own product capabilities while drawing on Shuaa’s asset management and investment proposition to set a new standard for user experience, advisory execution and portfolio allocation.
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According to a recent study by Knight Frank, the number of HNWIs (high net-worth individuals) in the Middle East is expected to increase by an average of 12 per cent by 2025 and that of UHNWIs (ultra-high-net-worth individuals) by over 26 per cent during the same period, with 57 per cent of these UHNWIs residing in Saudi Arabia and 23 per cent in the UAE. The millennial and HNWI and affluent investors are significantly underserved. Against this backdrop, Shuaa has identified a significant market opportunity to create a cutting-edge hybrid digital wealth platform that provides personalised curated management and advice.
Raad joins Shuaa from Visa, where he served as Vice President & Regional Head of Digital Solutions for the Central Europe Middle East and Africa region, driving e-commerce products, contactless, mobile payments, digital wallets, and developer platform, among others. Prior to that, Raad was Head of Products Marketing for Google’s Emerging Arabia and worked on market development of Google consumer products such as YouTube, Android, Maps, Navigation and Chrome.
In his role as Shuaa’s Chief Digital Officer, Raad will be responsible for building and leading this dynamic new fintech, driving product innovation and development, digital user experience design, fintech partnerships and digital wealth management platform.
