Sarah Shabayek Leaves Arqaam Capital to Join Telecom Egypt

(Bloomberg) -- Sarah Shabayek left Arqaam Capital’s equities research team to join Telecom Egypt Co. as head of investor relations. Ziad Itani replaces her.

Shabayek started in the new position last week, and is based in Cairo, she said. Telecom Egypt is the second-biggest telecom company traded on the country’ stock exchange by market capitalization, valued at $1.3 billion, according to data compiled by Bloomberg. The Egyptian government is its main shareholder, with an 80 percent stake.

Itani, who is based in Dubai, said he was named head of research for telecom, media and technology after Shabayek’s departure. Under his coverage are 17 companies in the Middle East and Africa that operate in more than 20 countries. Previously, he covered sectors including real estate, construction, cement, industrials and consumers. Itani will report to Jaap Meijer, head of research at Arqaam, who is also based in Dubai.

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