Longtime Noor Capital Sales Head Mohallab Alshnaigat Departs After Decade at Firm
FNG Exclusive—Mohallab Alshnaigat, a senior executive at UAE-based CFD broker Noor Capital for over ten years, has left the company, according to information obtained by FNG.
A Decade of Progression at Noor Capital
Alshnaigat’s tenure at Noor Capital began in 2014 when he joined as a Senior Relationship Manager. Over the subsequent years, he advanced through several roles, culminating in his appointment as Head of Sales in 2023. His departure marks the exit of a key figure with deep, institutional knowledge of the firm’s operations and client base, which primarily serves Arabic-speaking traders.
Context: Noor Capital’s Structure and Recent Expansion
Noor Capital operates as a subsidiary of the Al Sayegh Brothers Group, a diversified conglomerate headquartered in the UAE and led by Abu Dhabi businessman Abdul Jabbar Al-Sayegh. The group’s core business is consumer electronics distribution, notably importing LG and Hitachi products. The brokerage arm, established in 2005, offers online trading via the MetaTrader 4 and MetaTrader 5 platforms.
Under the leadership of CEO Mohammed Ghousheh—who served as CFO from 2007 to 2016 before taking the top role in 2016—the firm executed a significant strategic move in 2023. It acquired the UK-based, FCA-regulated broker House of Bourse, rebranding it as Noor Capital UK. This expansion positioned the company within a stringent regulatory framework, a critical factor for credibility in the European market.
The departure of a long-serving sales head following such a major international move invites scrutiny of the firm’s ongoing strategic direction and leadership stability during a pivotal growth phase. While the specific reasons for Alshnaigat’s exit are not publicly detailed, his decade-long trajectory from relationship management to sales leadership provides a clear marker of internal evolution up to this point.
