The head of an Australian private-owned company has purchased a material shareholding in the country’s only Islamic superannuation fund and institutional investment manager.
On Thursday, Crescent Wealth confirmed that Peregrine Corporation managing director Charlie Shahin AO will join the group’s shareholding register and board.
The board appointment comes on the back of Lebanese Muslim Association president Samier Dandan and fellow director Hilal Yassine stepping down to “focus on growing new parts of the group”.
“On behalf of my fellow board members I would like to welcome Charlie to the register and the board and say how much we value his presence and look forward to his guidance and counsel,” Crescent Wealth managing director Professor Talal Yassine OAM said.
“I would also like to thank Samier Dandan and Issam Eid for their work and commitment over the last decade. You go with our sincere appreciation and thanks.”
Founded in 1984, the Peregrine Corporation is currently recognised as South Australia’s largest privately owned employer, investing in a range of fields and generates more than $2.9 billion in revenue annually.
“Crescent Wealth has been a pioneer in Australian financial services and a champion for Islamic finance initiatives. We share the same values and a passion for ethical investing,” Mr Shahin said.
“I look forward to working with the Crescent Group team over the next many, many years.”
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