Sydney Monday April 15, 2013 — Crescent Wealth, Australia’s first wealth manager that invests in accordance with Islamic investment principles, today announced the appointment of a number of the world’s leading international experts on asset management, banking and Islamic wealth management to its Global Advisory Board.
The appointment of the pre-eminent international experts comes as the company moves to consolidate its position at the forefront of Australia’s emerging market for Islamic-compliant financial products.
Crescent Wealth welcomes the following six members to its Global Advisory Board, all of whom were selected for their depth of understanding of the Islamic world and issues related to Islamic wealth and asset management:
- Dr Jamil Jaroudi, CEO of Nizwa Bank in Oman
- Spiro Pappas, CEO of National Australia Bank (NAB) Asia
- Wadah Khanfar, former director general of Al Jazeera and founder of Al Jazeera English
- Toby O’Connor, CEO of Islamic Bank of Asia
- Ian Buchanan, a consultant with 40 years of corporate advisory experience in the Asia Pacific
- John A. Sandwick, Swiss private banker and innovator in Islamic banking structures
(Biographical data on Global Advisory Board members is available in our websites About Us section)
Talal Yassine, founder and Managing Director of Crescent Wealth, said he looked forward to drawing on the deep financial and international expertise of Global Advisory Board members as Crescent Wealth’s business expanded.
“As Crescent Wealth’s business grows and matures we will be increasingly looking to attract Islamic investment from overseas into our suite of Australian investment funds. There is an appetite for Australian portfolio investment among Islamic-leaning institutions and sovereign wealth funds offshore. The experience and insight residing within our Global Advisory Board will be a valuable resource as we seek to tap this international pool of investment.”
The Crescent Wealth Global Advisory Board will meet face-to-face at least once annually at locations in the Middle East, Europe and Asia and will have no formal fiduciary responsibilities.
Crescent Wealth has launched several Islamic compliant financial products including Australian and international equities, property, and income funds, which together comprise Australia’s first Islamic superannuation option.
Crescent Wealth is targeting the significant potential for Islamic funds in Australia, which it estimates will grow to as much as $22 billion in funds under management by 2020 from a potential market of as much as $10 billion today.