Charles-Henry Monchau has left his post as CIO and head of investment management at Al Mal Capital, Citywire Middle East has learned.
Sherif El-Haddad will take on the CIO role, a spokesperson for the firm confirmed. He will only be focusing on MENA equities in his new role, the spokesperson added.
El-Haddad joined the Dubai-based firm as an executive director in 2019, where he was in charge of the equities team. In his new appointment, he will also be responsible for overall asset allocation for MENA and non-MENA clients.
Prior to that, El-Haddad held various roles in his stints at Pearl Capital Management, EFG Hermes and Arab African International Bank. He brings over 16 years of experience to his new role.
Meanwhile, Monchau is yet to announce his next move, although he has indicated on LinkedIn that he will relocate back to Switzerland for a new role.
Having joined Al Mal Capital in 2017, Monchau was responsible for the asset management and capital markets division. Prior to that, he held various senior roles in SHUAA Capital, Deutsche Bank, EFG Bank, Rothschild Bank, Lombard Odier and BNP Paribas.