Aditum Investment Management Limited is an independent and privately-owned asset management company with a Category 3C license to service professional clients only, is established in the DIFC and regulated by the DFSA.
Established in 2018, Aditum aims to become a leading investment management organisation by offering GCC investors a range of global asset management solutions, predominantly alternative, through investment funds, separately managed accounts and structured products, both managed in-house and with globally renowned investment partners. Aditum focuses predominantly on absolute returns while all the time providing an outstanding service to its clients. As an investment boutique, it takes pride in attracting and retaining talented members of staff across all functions.
The company will continue to meet the emerging needs of its clients who are seeking increased diversification (and who have a bias towards income generating products); it will seek to build investment capabilities that predominantly offer clients access to lower correlated asset classes, balancing risk, return and volatility.
Aditum believes that the combination of strong leadership, highly experienced industry specialists and unique investment opportunities makes it an appealing alternative solution to traditional asset managers.
The Senior Board of Directors and Management Team has extensive experience in tailoring investment products and vehicles for regional clients and are well versed, across jurisdictions, in fund structure set up, operations and management and governance with clearly defined investment objectives and policies.
David Marshall
Director, Senior Executive Officer
David Marshall joined Aditum Investment Management Limited in December 2018. He has more than two decades of experience in financial services, spending nearly 10 years with Old Mutual and approximately 12 years with Emirates NBD where he held a number of senior management positions including SEO of Emirates NBD Asset Management and General Manager, Products and Advisory for Emirates NBD Bank Wealth Management.
Additionally, Mr. Marshall was Head of Products at Rasmala Investment Bank Limited for 18 months from April 2017. He has extensive experience of structuring conventional and Islamic financial products in a wide range of jurisdictions.
Mr. Marshall also holds a BA from the University of London.
Bruce Armstrong
Chairman
Bruce Armstrong has over four decades of experience in the investment banking and financial services industry, with extensive direct experience in the Middle East. Occupying numerous positions with several finance houses, he is a Fellow of the Institute of Chartered Accountants, a member of the Institute of Directors, an Associate of the Institute of Bankers and previously Chairman of Ivobank and Chief Financial Officer of Nymex Europe Limited.
Alexander Armstrong
Director, Deputy Senior Executive Officer
Alexander Armstrong has over 20 years of experience in structured finance, alternatives and financial innovation, formerly working at JPMorgan Chase where he was responsible for transaction advisory coverage in areas such as Global Emerging Markets DCM, Secondary Loan Trading, Leveraged Finance and Securitised Products Group. Mr. Armstrong’s most recent transaction history includes developing the region’s first European Islamic leveraged finance portfolio focusing mainly on the European mid-market and managing the liquidity program for QInvest LLC where he was formally Managing Director and Head of Financial Institutions and Structured Finance. Mr. Armstrong also sat on the firm’s Management Board and Investment Committee.
Caspar Warre
Director, Chief Financial Officer
Caspar Warre is an investment banker who started his career in investment banking in 2003. Most recently he was a Managing Director of Principal Investments and Head of M&A at QInvest. In addition, he was a member of QInvest’s Investment and Management Committees. Prior to QInvest, he was a Director at Dresdner Kleinwort in the Corporate Finance and Origination division.
Natalie Boyd
Director, Head of Legal & Corporate Governance
Natalie Boyd is a highly experienced Finance and Investment Management lawyer with more than two decades of expertise in conventional and Islamic capital markets, structured financings and hedging products, Middle Eastern investment solutions and Middle Eastern financial services regulations. Ms. Boyd has extensive UK, European and Middle Eastern experience, having advised global institutional clients for over two decades on complex, often ground-breaking products and structures.
Benita Kumar
Director
Benita Kumar has more than two decades of experience in advising global law firms on the requirements of their clients and how to provide superior and meaningful client relationship management services by investing in the strategic priorities of the client business from a commercial and legal perspective through client care programs, business development initiatives and coaching and training. She also works closely with corporate clients and general counsel providing structuring, benchmarking, external counsel and other areas of development to help them in their commercial solution delivery and management of legal services, internally and externally. Prior to setting up her own consultancy business, Ms. Kumar was the Head of Legal at Henderson Global Investors.
David Marshall
Director, Senior Executive Officer
David Marshall joined Aditum Investment Management Limited in December 2018. He has more than two decades of experience in financial services, spending nearly 10 years with Old Mutual and approximately 12 years with Emirates NBD where he held a number of senior management positions including SEO of Emirates NBD Asset Management and General Manager, Products and Advisory for Emirates NBD Bank Wealth Management.
Additionally, Mr. Marshall was Head of Products at Rasmala Investment Bank Limited for 18 months from April 2017. He has extensive experience of structuring conventional and Islamic financial products in a wide range of jurisdictions.
Mr. Marshall also holds a BA from the University of London.
Natalie Boyd
Director, Head of Legal & Corporate Governance
Natalie Boyd is a highly experienced Finance and Investment Management lawyer with more than two decades of expertise in conventional and Islamic capital markets, structured financings and hedging products, Middle Eastern investment solutions and Middle Eastern financial services regulations. Ms. Boyd has extensive UK, European and Middle Eastern experience, having advised global institutional clients for over two decades on complex, often ground-breaking products and structures.
Alan Trott
Chief Financial and Operations Officer
Alan Trott joined Aditum in August 2024 bringing 23 years of experience in UK based financial services and 4 years in international jurisdictions to the firm. Admitted as a member of the Association of Certified Chartered Accountants (ACCA) in 2004, Mr. Trott spent the first 10 years of his career in investment operations at the British Airways Pension Fund, followed by 4 years in Bermuda and the Channel Islands in the fund accounting space. Returning to the British Airways Pension Fund in 2010 as Head of Investment Operations, Mr. Trott was responsible for a broad range of operational business functions including being a director of the pension fund Incorporated Cell Company he set up in Guernsey in 2016. Most recently as the COO of a high frequency algorithmic proprietary trading firm operating in the digital asset space, Mr. Trott has implemented a robust operational and risk framework to support the growth of the firm.
Manoj Mahadev
Head of Investments
Manoj Mahadev joined Aditum in November 2020 and is a seasoned portfolio manager with over two decades of experience spanning global markets, Mr. Mahadev has held a number of senior positions during his career, recently Senior Dealer in the Treasury division of RAK Bank as well as Head of Marketable Securities at Arab Banking Corporation where he played a major role in the set-up of the DCM business. He also spent 8 years at Emirates NBD as Head of Trading.
Omer Chowdhry
Head of Fixed Income and Multi-Asset Strategies
Omer Chowdhry is an experienced portfolio manager with over 16 years of portfolio management and trading experience, with considerable expertise covering Global Fixed Income Markets and Equities. Prior to joining Aditum in April 2021, Mr. Chowdhry spent 5 years at Union National Bank as AVP and Manager in their Treasury and Investment Department. He also spent 5 years as Senior Equity Trader at T3 Trading Group, New York.
Mr. Chowdhry holds a BSc Mathematics from University of Michigan at Ann Arbor and MBA from Cornell University.
Danny Jones
Head of Private Debt
Danny Jones joined Aditum in November 2019 and has two decades of experience across the finance industry specialising in asset management and structured trade and commodity finance. Prior to joining Aditum, Mr. Jones spent four years as a Portfolio Manager at the asset management firm Rasmala Investment Bank Limited where he was responsible for their flagship trade finance fund, covering all aspects from origination, credit & risk analysis, structuring, document execution, investment selection, transaction & investment portfolio management to fund performance. Prior to that, Mr. Jones spent 13 years at Standard Chartered.
Sonali Goila
Head of Desk, Venture Capital
Ms. Goila is a full-cycle, multi-stage investor, operator and business-builder with over 18 years of experience across emerging markets including the Middle East, North Africa, Southeast Asia and India. Through her various roles, Ms. Goila has been an investor across multiple alternative asset classes over the past 18 years – Venture Capital, Private Equity and Derivatives of Fixed Income, Currencies, Commodities and Credit. Her experience has spanned all stages of investing from early-stage VC to late-stage PE buyouts, cross-asset portfolio building and management, capital structure modelling and financing for infrastructure projects, as well as business building in early-stage startups, and operational value-creation/turnarounds in growth stage business models. Ms. Goila has also directly managed portfolios of various family offices, out of which two have been of UAE Royal Family investors.
Ms. Goila was one of the pioneers of the Singapore startup ecosystem – having led and fostered some of the first few entrepreneurial ties for Singapore Universities with the Silicon Valley, founded and served on the Board of ASES Stanford’s Singapore Chapter, and co-founded a startup with this community in Singapore. Ms. Goila has an MBA (triple-major) from The Wharton School (UPenn), and a Bachelor’s in Computer Engineering from Nanyang Technological University (NTU) Singapore.
David Marshall
Director, Senior Executive Officer
David Marshall joined Aditum Investment Management Limited in December 2018. He has more than two decades of experience in financial services, spending nearly 10 years with Old Mutual and approximately 12 years with Emirates NBD where he held a number of senior management positions including SEO of Emirates NBD Asset Management and General Manager, Products and Advisory for Emirates NBD Bank Wealth Management.
Additionally, Mr. Marshall was Head of Products at Rasmala Investment Bank Limited for 18 months from April 2017. He has extensive experience of structuring conventional and Islamic financial products in a wide range of jurisdictions.
Mr. Marshall also holds a BA from the University of London.
Manoj Mahadev
Head of Investments
Manoj Mahadev joined Aditum in November 2020 and is a seasoned portfolio manager with over two decades of experience spanning global markets, Mr. Mahadev has held a number of senior positions during his career, recently Senior Dealer in the Treasury division of RAK Bank as well as Head of Marketable Securities at Arab Banking Corporation where he played a major role in the set-up of the DCM business. He also spent 8 years at Emirates NBD as Head of Trading.
Omer Chowdhry
Head of Fixed Income and Multi-Asset Strategies
Omer Chowdhry is an experienced portfolio manager with over 16 years of portfolio management and trading experience, with considerable expertise covering Global Fixed Income Markets and Equities. Prior to joining Aditum in April 2021, Mr. Chowdhry spent 5 years at Union National Bank as AVP and Manager in their Treasury and Investment Department. He also spent 5 years as Senior Equity Trader at T3 Trading Group, New York.
Mr. Chowdhry holds a BSc Mathematics from University of Michigan at Ann Arbor and MBA from Cornell University.
Danny Jones
Head of Private Debt
Danny Jones joined Aditum in November 2019 and has two decades of experience across the finance industry specialising in asset management and structured trade and commodity finance. Prior to joining Aditum, Mr. Jones spent four years as a Portfolio Manager at the asset management firm Rasmala Investment Bank Limited where he was responsible for their flagship trade finance fund, covering all aspects from origination, credit & risk analysis, structuring, document execution, investment selection, transaction & investment portfolio management to fund performance. Prior to that, Mr. Jones spent 13 years at Standard Chartered.
Sonali Goila
Head of Desk, Venture Capital
Ms. Goila is a full-cycle, multi-stage investor, operator and business-builder with over 18 years of experience across emerging markets including the Middle East, North Africa, Southeast Asia and India. Through her various roles, Ms. Goila has been an investor across multiple alternative asset classes over the past 18 years – Venture Capital, Private Equity and Derivatives of Fixed Income, Currencies, Commodities and Credit. Her experience has spanned all stages of investing from early-stage VC to late-stage PE buyouts, cross-asset portfolio building and management, capital structure modelling and financing for infrastructure projects, as well as business building in early-stage startups, and operational value-creation/turnarounds in growth stage business models. Ms. Goila has also directly managed portfolios of various family offices, out of which two have been of UAE Royal Family investors.
Ms. Goila was one of the pioneers of the Singapore startup ecosystem – having led and fostered some of the first few entrepreneurial ties for Singapore Universities with the Silicon Valley, founded and served on the Board of ASES Stanford’s Singapore Chapter, and co-founded a startup with this community in Singapore. Ms. Goila has an MBA (triple-major) from The Wharton School (UPenn), and a Bachelor’s in Computer Engineering from Nanyang Technological University (NTU) Singapore.
Mir Muntasir
Portfolio Manager
Mir Muntasir joined Aditum in June 2023. Mr. Muntasir has been managing investments for almost 8 years within fixed income, private debt, and alternative credit investments.
Prior to joining Aditum, Mr. Muntasir worked with Emirates NBD Asset Management as an analyst in multi-asset and fixed income for 4 years and spent almost 2 years with Abu Dhabi Capital Group managing distressed credit and alternative credit investments. Mr. Muntasir managed the fixed income funds and private credit investments for Daman Investments for 18 months.
Mr. Muntasir holds a MSc. Finance from University of Stirling and a BA Economics & Finance from the University of Nottingham.
Evelyn Mosuro
Portfolio Manager
Evelyn Mosuro joined Aditum in April 2021 bringing over a decade of experience in structured finance. Formerly a Vice President in the Securitised Products Group at JP Morgan, she was responsible for valuation advisory on private transactions across a range of deals including a portfolio of bespoke balance guaranteed swaps structured within a number of special purpose vehicles, European CRE loans including NPLs and Equity Release Mortgages. Prior to working on the private side, Ms. Mosuro was lead finance analyst for the Secondary trading portfolio within the Securitised Products Group.
Ms. Mosuro holds a BSc in Information Technology Management for Business from the University of Loughborough, United Kingdom.
Sarah Majidi
Portfolio Manager
Sarah joined Aditum in February 2024 as a Portfolio Manager, bringing her extensive background and expertise to the multi-asset and fixed-income team.
In her previous role, Sarah worked with Paravene Capital in London for 4 years, where she was in charge of Investments and Structuring. Prior to that, she worked for 2 years as a FX and Rates Trader at Societe Generale.
Ms Majidi holds a MSc Finance from University of Paris I Pantheon-Sorbonne.
Vartan Tanielian
Senior Investment Analyst
Vartan Tanielian joined Aditum in September 2024 bringing 4 years of experience working as a buyside equity investment analyst for hedge funds across Canada and the UAE. Prior to starting his finance career and obtaining a Master of Finance degree from McGill University, he played collegiate and professional basketball in his home country.
Seema Malik
Investment Analyst
Seema Malik joined Aditum in February 2024, bringing with her a background in investments. Prior to joining Aditum, Ms. Malik was part of the investment team that managed a multi-asset portfolio at Abu Dhabi National Insurance Company (ADNIC), where she worked as a Senior Officer in Investment Analysis and Reporting. She has also gained previous experience at the investment advisory firm Globaleye. Ms. Malik holds a bachelor’s degree from Oxford Brookes University and is currently pursuing her master’s degree in Global Banking and Finance from King’s College London. Additionally, she has successfully completed all three levels of the CFA program and is an ACCA affiliate
Abhikant Pratyush Singh
Investment Analyst
Mr. Pratyush Singh is a finance professional with over 3 years of experience. He began his career as an Interest Rate Derivatives Trader at Axxela in India, where he focused on Brazilian interest rate futures for nearly two years. He then transitioned to Bank of America in Delhi, where he worked for just over a year as an Investment Banking Analyst in the Emerging Growth and Regional Companies (EGRC) team. In addition to his work experience, he has completed two levels of the CFA program. Mr. Pratyush Singh holds an MBA from the Indian Institute of Management, Kashipur, and an engineering degree in Electronics and Communications from BIT Mesra, India.
Srividhya Raghavendran
Transaction Manager
Srividhya Raghavendran joined Aditum in July 2022 with over a decade of Credit and Trade Finance experience. Prior to joining Aditum, Ms. Raghavendran spent 3 years at Rasmala Investment Bank as Transaction Manager in their Trade Finance Team. Prior to this she spent 2 years at Rescom Mineral Trading FZE, a commodity trading house, as an assistant manager in charge of trade finance operations. Ms. Raghavendran started her career at Bank of Baroda Dubai operations in both Credit and their Trade Finance team where she spent 6 years and gained knowledge of Trade Finance products and its applications.
Ms Srividhya holds a B. Com degree from Bharathidasan University and holds a flagship course (JAIIB) from Indian Institute of Bankers.
Surendra Alexander
Trade Finance Analyst
Surendra Alexander joined Aditum Investment Management in 2022 bringing with him over 7 years of experience in Accounting & Finance specialising in Credit Control, Management reporting and Auditing. Prior to Joining Aditum, Mr. Alexander spent 3 years in Qatar as Credit Controller and Accounting specialist where he was responsible for AP, AR, Internal Audit and Management Reporting. He Started his career as Junior Accountant at Vships Ship Management company (India) in 2015 and got promoted to Fleet Accountant in 2017.
Mr. Alexander holds a Bachelor of Commerce in Accounting & Finance from Loyola College of Arts & Science, India.
Bejin Thomas
Venture Capital Investment Analyst
Bejin Thomas joined Aditum in 2022 bringing with him over 5 years of investment experience. Prior to joining Aditum, Mr. Thomas held an internship at Shorooq Partners assisting in investing and fundraising activities of their venture debt fund. Since graduating in 2017, he spent four years as an analyst at various funds in India, focusing on the startup ecosystem, which included 18 months at Equanimity Investments, a Venture Capital Fund backed by Dr. Mark Mobius, investing in early-stage tech businesses across India. Mr. Thomas holds a Bachelor of Commerce in accounting and finance.
Manoj Mahadev
Head of Investments
Manoj Mahadev joined Aditum in November 2020 and is a seasoned portfolio manager with over two decades of experience spanning global markets, Mr. Mahadev has held a number of senior positions during his career, recently Senior Dealer in the Treasury division of RAK Bank as well as Head of Marketable Securities at Arab Banking Corporation where he played a major role in the set-up of the DCM business. He also spent 8 years at Emirates NBD as Head of Trading.
David Fairclough
Chief Risk & Business Officer
David Fairclough leads the Risk Management function for Aditum, implementing the firm’s enterprise risk management framework and delivering independent investment risk management with the firm’s portfolio management teams. He began his career in business and corporate development roles at a Fortune 500 technology services firm, before spending three years as a management consultant delivering strategy and business improvement projects with private equity firms and multinational corporates. Before joining Aditum, he spent three years as Risk Manager at SHUAA Capital, covering all aspects of market, credit, and operational risk. Mr. Fairclough holds a BSc and MSc from Manchester Business School and is a CFA and FRM Charterholder.
Aline Kourjian
Chief Officer, Investment Operations
Aline Kourjian joined Aditum in June 2019 bringing over two decades of industry experience in operational management. Prior to joining Aditum, Ms. Kourjian spent four years at Maples Fund Services Limited (Middle East) as Head of Registrar and Transfer Agent, where she focused on fund administration and client servicing. In her previous role, Ms. Kourjian spent 8 years at SHUAA Capital as Head of Operations, where she oversaw the operational processes for all discretionary and non-discretionary clients, and the management of fund administrators, custodians and transfer agents. In her role at SHUAA Capital, Ms. Kourjian also developed, implemented and monitored the day-to-day operational systems and processes. Ms. Kourjian started her career at MAF Trust where she spent six years and was made Head of Operations in 2005.
Hirina Bahirwani
Risk Manager
Hirina Bahirwani Joined Aditum in January 2024 and works with investment risk and operational risk for Aditum and its clients. Miss Bahirwani has previously worked at PriceWaterhouseCoopers (PwC) for five years in Audit across a range of industries, with a focus on Financial Services. Miss Bahirwani has a Bachelor’s degree in Mathematics and Statistics from the London School of Economics and Political Science (LSE). She is ACCA qualified.
Aline Kourjian
Chief Officer, Investment Operations
Aline Kourjian joined Aditum in June 2019 bringing over two decades of industry experience in operational management. Prior to joining Aditum, Ms. Kourjian spent four years at Maples Fund Services Limited (Middle East) as Head of Registrar and Transfer Agent, where she focused on fund administration and client servicing. In her previous role, Ms. Kourjian spent 8 years at SHUAA Capital as Head of Operations, where she oversaw the operational processes for all discretionary and non-discretionary clients, and the management of fund administrators, custodians and transfer agents. In her role at SHUAA Capital, Ms. Kourjian also developed, implemented and monitored the day-to-day operational systems and processes. Ms. Kourjian started her career at MAF Trust where she spent six years and was made Head of Operations in 2005.
Rohan Joshi
Head of Sales and Distribution
Louisa Carnegy
Head of Marketing
Louisa Carnegy joined Aditum in September 2019 bringing two decades of industry experience. In her previous role, Ms. Carnegy spent 2 years at Rasmala as their Investment Communications Manager and prior to that spent over 11 years at Franklin Templeton in the Institutional Client Service and Sales Support team supporting regional sovereign wealth funds and tier one clients with onboarding, account set ups and ongoing service requirements. Before moving to Dubai, Ms. Carnegy began her career at Goldman Sachs, London, as a Client Analyst in the Private Wealth Management department and then spent 2 years at the Financial Risk Management Ltd, London, (a fund of hedge funds) in their marketing department. Ms. Carnegy holds a BA (hons) in Financial Services from the University of Northumbria, Newcastle-upon-Tyne, United Kingdom.
Ilona Pylypenko
Head of Compliance
Ilona Pylypenko joined Aditum in February 2024 with over 14 years’ experience in the financial services industry, a decade of which she spent in regulatory compliance and AML for regulated financial services firms based in the DIFC where she performed the role of Compliance Officer and MLRO Authorised Individual licensed functions for DFSA regulated entities. Prior to joining Aditum Ms. Pylypenko was the Head of Compliance and MLRO for one of the largest regulated asset managers in the Middle East holding a Category 2 DFSA license. Ms. Pylypenko has a postgraduate MBA Certificate from the University of Manchester, International Diploma in Compliance from the International Compliance Association (ICA), and Fintech in financial services award from the University of Pennsylvania – The Wharton School Aresty Institute of Executive Education. Ms. Pylypenko is a Certified Data Protection Officer, a Fellow member with ICA and a member with Chartered Institute of Securities and Investment.
Ilona Pylypenko
Head of Compliance
Ilona Pylypenko joined Aditum in February 2024 with over 14 years’ experience in the financial services industry, a decade of which she spent in regulatory compliance and AML for regulated financial services firms based in the DIFC where she performed the role of Compliance Officer and MLRO Authorised Individual licensed functions for DFSA regulated entities. Prior to joining Aditum Ms. Pylypenko was the Head of Compliance and MLRO for one of the largest regulated asset managers in the Middle East holding a Category 2 DFSA license. Ms. Pylypenko has a postgraduate MBA Certificate from the University of Manchester, International Diploma in Compliance from the International Compliance Association (ICA), and Fintech in financial services award from the University of Pennsylvania – The Wharton School Aresty Institute of Executive Education. Ms. Pylypenko is a Certified Data Protection Officer, a Fellow member with ICA and a member with Chartered Institute of Securities and Investment.