MOVES-Former HSBC exec joins Gulf Capital in Abu Dhabi

ABU DHABI, June 13 (Reuters) - Mahmoud Atalla, previously co-head of distressed debt and loan trading at HSBC, has left the bank to join Abu Dhabi-based private equity firm Gulf Capital, the chief executive of Gulf Capital said on Monday.

Atalla joined the Abu Dhabi firm as managing director for private equity in early June, Karim Solh said.

Gulf Capital, one of the biggest private equity firms in the region, aims to grow its assets under management to $5 billion in the next two to three years from about $3.5 billion now.

The firm is sitting on $1 billion of cash that will be deployed in Africa, the Gulf or Asia, Solh said, adding that Gulf Capital was looking at three transactions in Saudi Arabia that would probably be finalised this quarter. (Reporting by Stanley Carvalho, editing by Andrew Torchia)