RBC Dexia Investor Services today announced that it has appointed Cormac Sheedy as Senior Executive Officer for Middle East & Africa to lead the company’s business development drive in the region.
Reporting to Simon Shapland, Managing Director of UK, Ireland and Middle East, He will be based in RBC Dexia’s Dubai office and has over 20 years’ 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 their 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 business’s 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.
Simon Shapland commented: “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. 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. Cormac’s 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.”
RBC Dexia came out on top of the latest R&M Consultants Global Custody Survey and also excelled in a number of other recent awards, being named 2010 European Custodian of the Year by Funds Europe magazine; #1 global custodian overall for the Americas and EMEA in Global Investor’s 2010 Global Custody Survey. Also being named ‘European Transfer Agent of the Year’ and ‘Fund Administrator of the Year: Luxembourg’ at the 2010 ICFA European Awards.