Publication Date:
Tue, 2011-02-08 21:47
The Dubai-based company was not immediately available for comment.
Shuaa has been shedding risky assets from its investment portfolio after the Dubai's property crash and asset bubble.
On Monday, Shuaa said its fourth-quarter loss was 186.7 million dirhams, compared with 154.3 million dirhams a year earlier, driven by impairments and lower valuations.
Deards was appointed in March 2010 to help the investment bank meet its aim of tripling its fee income in the next three years. He joined from London-listed Alliance Trust.
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