Company: Dubai International Capital (DIC)
Biography: David Smoot joined DIC in June 2008, shortly before the financial crisis hit Dubai and forced the emirate into a wave of debt restructurings. DIC did not escape this trend, and Smoot, who joined as chief investment officer in 2008 and became CEO in 2010, has been instrumental in steering the firm through a difficult period.
DIC announced in April that it had agreed a restructuring of $2.5bn of debt. Smoot will now need to ensure it can meet its obligations to lenders and get enough value out of its assets, most of them bought at the peak of the boom, to meet those obligations.
He is also chairman of DIC’s portfolio companies Almatis, Doncasters and Jordan Dubai Capital. Smoot is a graduate of Harvard Law School and Duke University, both in the US. He has 16 years of experience in the banking and private equity sector and has spent 11 years with the US’ Morgan Stanley.
Contact Tel: (+971) 4 362 1888