Wealth management group Kingswood, said Monday it had appointed Najib Canaan as its US CEO as the company seeks to roll out its US expansion and grow investment distribution channels for its products.

Mr. Canaan, who would join the newly restructured Kingswood Investment Committee, had more than 30 years of experience and joins from Marinus Capital Advisor, an alternative investment management firm where he was the Founding Partner and Chief Investment Officer.

Prior to that, Mr. Canaan was a Managing Director and Head of Structured Finance at GSO Capital, a Blackstone Group affiliate. He also established and managed the Structured Products Trading Group at Brevan Howard.

Mr. Canaan was also Executive Managing Director and Co-Head of International Markets at Nomura Securities International and Co-Head of Fixed Income in Europe for Nomura International PLC where he oversaw a fixed income, asset-backed, and real estate balance sheet in excess of $100 billion.

Kingswood sees the US as a 'big growth opportunity being the largest global wealth management market, estimated to be worth $46.9 trillion as at 2016,' the company said. 'The market is still growing significantly year on year with 5.7% compound annual growth rate forecast for period 2016 - 2020. By end of 2025, it is estimated the North American market will be worth in excess of $71.2 trillion.'


At 8:01am: (LON:KWG) Kingswood Holdings Limited Ord 5p share price was 0p at 11.5p