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Abu Dhabi-based investment firm, The National Investor (TNI), has appointed a new chief executive officer to replace Orhan Osmansoy, who resigned after nine years at the helm, the company said in a statement on Sunday.

The new chief, Yasser Geissah, joins TNI after working with commercial and investment banking firms in the United Arab Emirates, including Abu Dhabi Invest Co, National Bank of Abu Dhabi and CAPM Investment. The statement did not mention where Geissah was most recently working.

Sources had told Reuters last week that Orhan Osmansoy resigned after expanding the company into a regional investment firm, operating in private equity, investment advisory and asset management businesses.

The management change at TNI may ignite new life into the company that has been hard hit during the global financial crisis. It shed dozens of jobs - more than half of its workforce - last year as, like a number of rival Middle Eastern investment firms, it struggled to boost revenue and remain profitable in depressed capital markets.

Privately-owned TNI's net profit rose to 3.9 million dirhams ($1.06 million) in the 2011/2012 fiscal year after plummeting to 2.2 million dirhams the year before from 30.8 million dirhams in 2009/2010. Consolidated revenue rose 5 percent to 107.1 million dirhams in 2011/2012.

Under Osmansoy's leadership, the firm advised on the initial public offerings of companies such as Aldar Properties and Abu Dhabi Islamic Bank during the boom years.