Marex Prime Services, a division of financial services platform Marex, announced today (Thursday) its expansion into Dubai, marking another step in the company's Middle East growth strategy.

Marex Ramps Up Middle East Operations, Names Najjar to Lead Dubai Team

Moreover, the firm has appointed Mazen Najjar, a veteran with over 12 years of experience in financial services and prime brokerage sales across the MENA region, to spearhead its institutional sales efforts. Najjar joins Marex after a six-year tenure at IG Prime, where he was driving growth through product launches and developing partnerships with B2B clients.

In his new role, Najjar will be tasked with developing and implementing Marex Prime Services' regional sales strategy. He will focus on providing localized support and tailored prime brokerage solutions to a diverse client base including banks, hedge funds, investment managers, and family offices.

“This strategic move strengthens our current operations and better positions us to meet the evolving needs of our clients in the region,” commented Shahab Hashemi, CEO (MENA) at Marex. “Incorporating prime services to our offering allows us to deliver more tailored and localized solutions to hedge funds, family offices and other institutional clients.”

The establishment of a dedicated presence in Dubai complements Marex's existing operations in the Middle East region. It is also expected to strengthen the firm's position in the competitive prime brokerage market.

Just yesterday (Wednesday), Marex Group announced its agreement to acquire Aarna Capital Limited for the Middle East clearing business. Based in Abu Dhabi, Aarna Capital provides clearing, execution, and risk management solutions.

“This is an exciting time for our prime services team, and I'm looking forward to building on Marex's achievements and delivering tailored prime brokerage solutions to our clients,” Najjar himself expressed enthusiasm about his new role.

Exec Moves

Marex has recently made several other key executive changes. In June, the company announced Liz Barrett as the new Group Head of HR, starting June 24, 2023. Barrett, who brings over twenty years of experience in financial services, has a robust background in global business operations, organizational change, and culture initiatives. She succeeds Karen Neffar, who has left the company to explore new opportunities.

Additionally, in March, Marex enhanced its Group Board by appointing John Pietrowicz. He previously served as the Chief Financial Officer at CME Group. Pietrowicz's extensive background in financial markets and regulatory frameworks adds significant value to Marex. The company noted that his deep expertise in corporate finance, accounting, and mergers and acquisitions will help Marex effectively manage the intricate aspects of market dynamics and compliance demands.