RBC Dexia Investor Services has appointed Cormac Sheedy as senior executive officer for Middle East & Africa to lead the companys business development drive in the region.
Sheedy will be based in RBC Dexias Dubai office and report to Simon Shapland, managing director of UK, Ireland and Middle East. Sheedy has more than 20 years of experience in financial services, spending the last eight working in the United Arab Emirates (UAE) where he was most recently head of sales at SHUAA Capital, a UAE Investment Bank.
Cormac launched the Dubai office for Invesco Asset Management in 2003, running its retail and institutional asset management business. He subsequently worked as sales director for the GCC region at Fidelity International, managing a sales team, securing distribution for the businesss mutual fund range and overseeing the launch of a number of funds in Saudi Arabia. Before moving to the UAE, Cormac was a business development manager for Bank of Ireland Asset Management.
The UAE is an important regional hub from which asset managers can build and distribute local products, serve Middle East and North Africa investors and provide access to markets for global clients, Shapland says. RBC Dexia is known for its excellence in client service, and our on-the-ground presence in Dubai is crucial for providing locally-based clients with a full suite of custody, administration and value-added services. Cormacs experience on the buyside gives him extensive insight into what asset managers need in order to operate effectively, and we look forward to having him on board.
(CG)