back Back

SHUAA to launch next-generation Digital Wealth platform

By Leandra Monteiro

June 14, 2021

  • America
  • Shuaa
Share

SHUAA SHUAA Capital psc, the asset management and investment banking platform in the Middle East, 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 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 holistic digital wealth management experience that leverages new technologies such as Artificial Intelligence (AI) 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.

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 percent by 2025 and that of UHNWIs (ultra-high-net-worth individuals) by over 26 percent during the same period, with 57 percent of these UHNWIs residing in Saudi Arabia and 23 percent 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 hybrid digital wealth platform that provides personalised curated management and advice.

Hadi 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, Hadi 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, Hadi 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. Hadi will report directly to Jassim Alseddiqi, Group CEO of SHUAA.

Commenting on Hadi’s appointment and SHUAA’s digital plans, Jassim Alseddiqi, Group Chief Executive Officer of SHUAA, said, “Our intention to launch a new digital wealth platform is in line with our increasing focus on technology, which, as we have previously indicated, will be one of SHUAA’s top priorities going forward. This includes transforming our asset and wealth management capabilities and client experience in ways we have never done before. At the same time, we have identified a gap in the market for an innovative digital wealth offering that integrates best-in-class advisory services, execution and cutting-edge technology.

“We are delighted to bring Hadi on board to drive this exciting digital wealth proposition, with his in-depth experience of developing innovative solutions that have been instrumental in empowering digital ecosystems. Together, I am confident that SHUAA can address this significant opportunity and create an unparalleled digital wealth platform.”

Commenting on his appointment, Hadi Raad said, “I am delighted to join one of the most credible names in the investment banking and asset management industry. I look forward to my role in building a digitally-led proposition that not only adds value to SHUAA’s existing client base but also expands access to new client segments significantly. My goal is to develop a best-in-class digital-first offering, expanding SHUAA’s digital capabilities and making diverse global and regional investment product portfolios accessible to as many investors as possible in the region and beyond.”

Previous Article

June 14, 2021

Equifax UK upgrades flagship credit risk product Risk Navigator 5

Read More
Next Article

June 14, 2021

Bank of America launches Pay to Card, expands its digital B2C payment offerings

Read More








IBSi Daily News Analysis

Cybersecurity, financial services

May 17, 2024

America

Most of KSA organizations uses AI in their cybersecurity strategies, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 17, 2024

Niyogin acquires ‘Superscan’ from Orbo.ai to propel AI-led neo-banking

Read More

May 17, 2024

FinTech Focus: Catch latest developments of the week

Read More

May 17, 2024

FinTech Aeropay raises $20m in Series B Financing

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023