DUBAI - Principal Global Investors has opened a new office in Dubai in an effort to expand its institutional business in the Middle East and has appointed Wassim Nasrallah as managing director and head of the region.
The firm will focus primarily on institutional investors in the Gulf Cooperation Council.
Nasrallah will be responsible for business development and marketing. He joins from Gottex Fund Management where he served in a similar capacity.
Jim McCaughan, chief executive of Principal Global Investors said: "The establishment of a Principal office in Dubai marks the continued expansion of our global footprint. Through Wassim's leadership and experience, we look forward to offering the distinctive benefits of our multi-boutique investment model to clients in the Middle East."
Principal offers equity, fixed income, real estate and overlay strategies. The firm manages $231.4bn in assets primarily for institutional investors.
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