Our reputation is built on innovation, reliability and client service.
About Us
Rasmala is an independent provider and manager of alternative investment products, serving Gulf-based investors, including pension funds, family offices, corporates, endowments and financial institutions.
Our philosophy suits sophisticated investors as we focus on long-term investing rather than seeking short-term returns that, in our experience, tend to lead to poor long-term performance. We access alternative investments that give investors the opportunity to diversify their investment portfolios and our strong balance sheet underpins our ability to underwrite and secure the best transactions.
Although originally founded to serve Gulf investors, our investment universe and corporate culture have always been international. Our experienced team combines in-depth market knowledge and global experience with a strong track record.
Our Values
At Rasmala we offer our clients the same outstanding levels of service and performance, irrespective of where they are geographically based.
Client Focus
We build long-term relationships with our clients and offer customized solutions that support their long-term objectives.
Trust
We hold ourselves to the highest ethical standards and take responsibility for the welfare of our company and our clients.
Excellence
We are professional, always learning, have a strong work ethic and excel in everything we do.
Innovation
We are enterprising and innovative in finding solutions to business problems and achieving successful outcomes for our clients.
Passion
Our passion is delivering positive impact in our communities.
Our People
Our team is comprised of experienced professionals, from around the world, who understand that our long-term commitment to investors is integral to our success. Everyone working at Rasmala embodies our ideals of professionalism, performance and innovation, and those values remain our foundation.
Zak Hydari
Chairman
Zak is Chairman of Rasmala. He was Chief Executive between 2012-2020. He has over 20 years’ experience in private equity, mergers and acquisitions, special situations and business turnarounds. He has held leadership positions in portfolio companies and implemented post-acquisition strategies. He was previously Chief Executive of HBG Holdings, a special situations private equity investor.
He has served in various other capacities including as Board and Executive Committee Member of Muscat Finance Company, a publicly listed company on the Muscat Stock Exchange; Co-Chairman of British Conservatives Abroad (Dubai and Northern Emirates) and Board Member of the Middle East Advisory Panel of the Corporate Finance Faculty, part of the Institute of Chartered Accountants in England & Wales. Zak holds an MBA from Cranfield University and was awarded The Distinguished Alumnus Award in 2018.
Eric Swats
Chief Executive Officer
Eric is Chief Executive Officer of Rasmala. He was previously Senior Executive Officer at Rasmala Investment Bank Limited. Prior to joining Rasmala, he spent 17 years with Citigroup Asset Management. At Citigroup London, he served as Head of European Private Bank Asset Management and was a member of the Global Asset Allocation Committee and Head of the European Regional Investment Committee. Eric was also fixed income Fund Manager based in Zurich and short-term fixed income Fund Manager based in New York. Eric holds an MBA in Finance from New York University and is a CFA charterholder. He is Board Member of Rasmala Holdings Limited, Rasmala Investment Bank Limited, and various other group entities.
Ruggiero Lomonaco
Head of Products and Real Estate Funds
Ruggiero is responsible for launching new Investment Products. He has over 25 years of experience in the investment management industry and specialises in Sharia-compliant products. Prior to joining Rasmala, Ruggiero held senior management positions at HSBC and ABN AMRO. Ruggiero holds a first-class honours degree in Economics and Finance and is a Certified Public Accountant in Italy.
Haroon Ahmad
Head of Sales & Marketing
Haroon is responsible for client relations, sales and business development. Haroon has over 17 years’ experience in the financial services industry across the UK, US and the Middle East with HSBC, HSBC Amanah, Emirates NBD Asset Management and Alinma Bank. He has a broad range of experience covering product, structuring, origination and coverage. Haroon holds an Economics degree from University of Warwick. He is a qualified ACA from England and Wales and a CFA charterholder.
Ali Taqi
Head of Equities & Client Solutions
Ali is responsible for managing equity strategies as well as further developing the equity business including upcoming product innovation and expansion. Ali brings nearly 16 years of buy-side investment experience and business development; CFA charterholder with a Masters of Engineering degree in Operations Research & Industrial Engineering and Dean’s Certificate in Financial Engineering from Cornell University. Ali’s career started in the United States with Manning and Napier Advisors as part of the equity research team. He worked at National Bank of Kuwait, Gulf Investment Corporation and as founding partner at A/T Capital Management.
Doug Bitcon
Head of Credit Strategies
Doug is responsible for managing credit strategies. Prior to Rasmala, he worked at ABSA Bank in London as a Corporate Credit Analyst before taking responsibility for the bank’s proprietary credit trading and investment portfolios, focused on higher yielding emerging market exposures. Doug started his career as a Corporate Credit Analyst in South Africa after graduating from Natal University with a Bachelor of Commerce degree.
Jawad Ahmad
Head of Finance, Operations, IT & Admin
Jawad is responsible for finance, operations, technology and administration. He brings over 15 years of experience across telecoms, finance and manufacturing, with a track record of implementing systems and processes to deliver financial and business results. Prior to joining Rasmala, Jawad was Head of Finance at Ravago Middle East, and prior to that worked at British Telecom where he was responsible for enhancing reporting frameworks to support strategic planning. Jawad holds a Bachelor of Science in Electrical Engineering from University of Engineering and Technology in Lahore and an MBA from Lahore University of Management Science. He is a qualified Chartered Management Accountant (CIMA) and a CFA charterholder.
Ghassan El Hitti
Head of Legal and Regulatory
Ghassan is responsible for the legal and corporate governance function across the firm. He also advises the Board and executive management team on various strategic, operational, regulatory and risk issues. He brings over 18 years of legal and regulatory experience to Rasmala. Ghassan headed the SHUAA Capital’s legal and compliance departments. Ghassan worked for the United Nations Development Programme (UNDP) as a senior advisor to the Ministry of Finance of the Republic of Lebanon where he worked on sovereign debt strategy and issuance. Prior to that, he was Assistant General Counsel at the Municipal Securities Rule Making Board (MSRB) in Virginia, and a trial attorney in the Division of Enforcement of the Commodity Futures Trading Commission (CFTC) in Washington, D.C.
Ghassan obtained a BS in Finance and International Business from Georgetown University in Washington, D.C. and a JD/MBA from Case Western Reserve University in Ohio. He is admitted to the New York Bar.