Bahrain's Investcorp removes co-CEO arrangement in big reshuffle
Executive Chairman assumes additional roles earlier handled by co-CEOs
Dubai: The Bahraini firm Investcorp has brought on major changes at the top levels of its management, with Executive Chairman Mohammed Alardhi taking on additional responsibilities.
These new operational tasks were earlier handled by the company’s co-CEOs Rishi Kapoor and Hazem Ben-Gacem.
"As we increase our focus on leveraging the strength of our existing investment platform, we recognize it is the right time to broaden our executive leadership to support our future growth plans," said Alardhi.
Investcorp has also consolidated its investment activities under three business verticals - private Equity, which will be led by Dave Tayeh; Real Assets (comprising real estate and infrastructure), which will be co-led by Herb Myers and Mike O'Brien; and Credit, which will be led by Jeremy Ghose.
Yusef Al-Yusef will be leading the Global Distribution Platform.
New roles for former co-CEOs
Rishi Kapoor, who joined the company in 1992, has assumed the position of Vice-Chairman and Chief Investment Officer, while Hazem Ben-Gacem is leaving the company, effective November 1. He will however continue his role as vice-chairman of ADX-listed Investcorp Capital, which was one of the companies that went for an IPO in the UAE last year.
"Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey," said Alardhi.
According to Kapoor, "I’ve seen the firm develop and grow into a market-leading, global, diversified alternative asset manager. As we move into a new phase of growth, I’m pleased to partner with the broadened executive leadership team to shape our global investment strategy and generate further value for all our stakeholders."