Palm Hills Development has appointed former CI Capital co-CEOs Hazem Badran and Tarek Tantawy (LinkedIn) as new co-CEOs and managing directors to replace founder Yasseen Mansour, who is handing over the CEO’s job but will remain executive chairman, according to a statement (pdf) yesterday. The pair left CI Capital in April, and are setting up a PE firm together, dubbed Valor Capital Partners. Badran has 22 years of experience in corporate finance and investment banking in the MENA region and was at EFG Hermes before joining CI Capital, where he became co-CEO. Tantawy was also formerly CI Capital’s managing director and co-CEO, having joined the company from Telecom Egypt, where he was CEO of the fixed-line and mobile giant.

Maxim Investment Group has appointed Mohamed Samir El Sayed (LinkedIn) as its new CEO, it said in a statement (pdf). Sayed has almost two decades of experience in development and hospitality, and joins from Emaar Hospitality Group, where he served as its corporate director of operations and development. Maxim also appointed Alia El Nagdi (LinkedIn) as its chief marketing officer. El Nagdi will bring to the company over 25 years of experience in the hospitality and real estate development industries.