June 24, 2019 / 1:01 PM / a month ago

UPDATE 1-MOVES-CEO of Abu Dhabi's ADSS to leave brokerage

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ABU DHABI, June 24 (Reuters) - The chief executive of Abu Dhabi’s ADSS, a brokerage and trade services provider, will be leaving the firm shortly to pursue new opportunities, the company said in an emailed statement.

Philippe Ghanem “will be leaving the organization shortly to pursue new entrepreneurial business opportunities,” the statement said in response to questions by Reuters.

The company’s chairman, Mahmood Ebraheem Al Mahmood, has assumed operational responsibility of ADSS, it said.

Ghanem, a Swiss and Emarati national has been with ADSS since 2011 when the privately-owned firm was set up to offer commodity trading, foreign exchange and brokerage services. It added investment banking and asset management to its portfolio in 2014.

ADSS’s clients include private investors and institutional investors such as banks, global and regional hedge funds, asset managers, investment banks and non-banking financial institutions.

Licensed and regulated by the United Arab Emirates’ Central Bank, ADS Securities has offices in London, Hong Kong and Singapore.

Reporting by Stanley Carvalho, Hadeel Al Sayegh, Davide Barbuscia, editing by Louise Heavens

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