Egyptian private equity firm Citadel Capital has hired a star manager who left Investec last month, which triggered a suspension of an A rating given to the Middle Eastern fund that he managed.

Amr Seif, formerly at South African bank Investec, has been appointed as chief executive of Citadel portfolio company, Finance Unlimited. Last month, research company Old Broad Street Research suspended their A rating of Investec's GSF Middle East and North Africa fund, citing Seif's departure from the firm as the reason.