Investcorp, the world’s leading alternative investment management firm based in Bahrain , today announced a series of management changes aimed at sustaining the company’s growth .
These changes came in part after the decision of Mohammed Al-Shorouqi to retire as co-CEO in August 2018. Al-Shorouqi, who joined Investcorp in 2009, will remain with the company as a private consultant.
The Board of Directors of Investcorp has approved a number of changes in the structure and responsibilities of the members of the senior management team, to be operational in August.
Rishi Kapoor, who has a successful career spanning more than 25 years at Investcorp’s, will continue to serve as co-CEO. He will also be joined by co-CEO Hazem Bin Qasim, who will move to the Gulf, subject to regulatory approval. Bin Qasim has been leading the private equity investment management team in Europe since 2012.
Commenting on the changes, Chairman Mohammed Al Ardhi said: “The new appointments reflect a change in the nature of our business, as we become a more global financial institution with more diversified alternative investment assets. We are making excellent progress in implementing our growth strategy to better serve our global customers, and these changes are in line with our strategic priorities. ”
“I am very grateful for the profound contribution Mohammed Al-Shouroqi has made to the development of our business in the Gulf and I am pleased that he will continue to work with the Foundation as a Special Advisor. At the same time, I am pleased to have these distinguished leadership competencies in the institution. I look confidently into the future and look forward to working with the new team in the coming years. ”
Mohammed Al-Shorouqi affirms: “The past decade has been the most exciting in my career and I am honoured to be part of this exceptional and dynamic institution and its team of world-class talent. As I turn my attention to the new generation of leaders at Investcorp, I am delighted to continue as a private consultant and continue to assist the Chairman of the Executive Board, Mohammed Al Ardhi. The new team has all the qualifications and capabilities to succeed in achieving the desired growth of the institution.”
Mohammed Al-Shorouqi joined Investcorp in 2009 after a three-decade drive at Citigroup and led investment efforts in the Gulf to record levels after recovery from the global financial crisis. Al-Shorouqi has played a major role in private equity investments in the Gulf and Turkey and has contributed to making Investcorp the largest investor in Saudi private companies in the last seven years.