Principal taps Kumar for Mideast funds distribution
HONG KONG: Principal Global Investors, a leading diversified asset management firm and partner of the annual CREATE-Research report on the asset management industry, has appointed Gaurav Kumar as head of funds distribution for the Middle East.
In his new role, Kumar – who will be based in Principal Global Investors’ Dubai office – will be responsible for developing and strengthening Principal Global Investors’ relationships with key intermediaries, including IFAs, fund selectors and key investment platforms, across asset classes and geographies in the Middle East.
Kumar will report to the firm’s chief executive for Asia and the Middle East, Andrea Muller, and to its managing director and head of the Middle East, Wassim Nasrallah.
“Middle Eastern institutional and high net worth investors face the same challenges as many investors around the globe, namely, the search for yield, income and the avoidance of large performance draw downs,” Nasrallah said.
“[Kumar] will be well positioned to help meet these needs, with specialist funds such as Preferred Securities, traditional, short and intermediate-term high yield and global property securities,” he added.
Kumar has more than 15 years’ experience in financial services, having started his career with M&G Investments in London. Prior to joining Principal Global Investors, Kumar was a partner at Al Masah Capital, a boutique alternative investment company focused on the Middle East and North Africa region, where he was responsible for the strategic expansion of the business, both geographically and across its different business lines.
Starting in 2002, Kumar spent more than 10 years with the Prudential Group, during which time he worked as head of product and international business for Prudential ICICI, based in India, and head of portfolio management for Asia, based in Singapore.
Kumar also acted as CEO and a member of the board of directors for Eastspring Investments (formerly known as Prudential Asset Management) in Dubai, where he was responsible for setting up and managing Prudential’s funds activities across the Middle East.