Crescent Wealth, the Australian wealth management firm, has strengthened its board with the addition of several known names in the asset management, banking and Islamic wealth management industries.

The new Global Advisory board shall consist of six members, namely Dr Jamil Jaroudi, chief executive of Nizwa Bank (Oman), Spiro Pappas, CEO of National Australia Bank Asia, Wadah Khantar, former Al Jazeera director general, Toby O'Connor, CEO of Islamic Bank of Asia, Ian Buchanan, a corporate advisory veteran, and John A Sandwick, a Swiss private banker specialising in Islamic structures.

The appointments are in line with the company's efforts to grow its Islamic finance offering in Australia. Crescent Wealth says it expects the local Islamic funds market to grow to as much as A$22 billion ($22.9 billion) in funds under management by 2020, from around A$10 billion at present.