January 9, 2014 / 12:10 PM / 4 years ago

Dubai Group appoints former Emirates NBD banker as CEO - sources

DUBAI, Jan 9 (Reuters) - Dubai Group, a unit of the investment vehicle of the ruler of the emirate which is undergoing a $10 billion debt restructuring, has appointed Ahmed al-Qassim as its chief executive, three sources aware of the matter told Reuters.

David Smoot, the chief executive of Dubai International Capital who was asked earlier this year to manage the sale of Dubai Group’s assets, has ended his association with the company, the sources added on Thursday.

Qassim, an Emirati, was a director of investment banking at Emirates NBD from February 2013, according to his LinkedIn page, and has also held roles at General Electric and its joint venture with Abu Dhabi state-owned fund Mubadala Development Company.

Dubai Group didn’t immediately respond to a request for comment. (Reporting by David French; Additional Reporting by Mirna Sleiman; Editing by Elaine Hardcastle)

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