Dubai International Capital, the international investment arm of Dubai Holding, has appointed David Smoot, who joined DIC from Morgan Stanley last July as a managing director, as chief
Dubai International Capital, the international investment arm of Dubai Holding, has appointed David Smoot, who joined DIC from Morgan Stanley last July as a managing director, as chief executive for private equity.
Smoot (pictured) succeeds outgoing chief executive for private equity Sylvain Denis, who the group says is leaving DIC with immediate effect.
Managing director Alan Hyslop is also leaving the group immediately and will be replaced by Eric Kump, who is based in London, as head of the DIC European private equity team.
Sameer Al Ansari, executive chairman and chief executive of Dubai International Capital, says: ‘David has an outstanding track record in the private equity field and exceptional relationships in the industry. Most importantly, his extensive hands-on experience of managing assets in difficult economic conditions leaves me in no doubt that he is ideally positioned to lead the DIC private equity division and DIC’s portfolio companies through the current downturn and identify the opportunities that will emerge as asset prices continue to fall.’
Smoot, 39, has a 14-year track record in investment banking and private equity, including 11 years with Morgan Stanley in New York, where he co-founded the private equity division.
He will join the boards of DIC portfolio companies along with Kump.
Kump, 38, joined DIC last year as a managing director after 16 years with Merrill Lynch, including 13 years with the firm’s global private equity group. He has spent the past ten years in London with a focus on European LBO’s across multiple sectors and geographical regions.
Al Ansari adds: ‘I would like to thank Sylvain and Alan for their important contribution in developing and building a strong and diversified PE business. It has been real pleasure to work with them over the years and wish them every success in the future.’
