Bahrain-based alternative investment manager Investcorp has made a number of senior management appointments following the retirement of its co-chief executive Mohammed Al Shroogi.
Al Shroogi will step down in August 2018 after nine years with the company and will remain as a senior advisor. He is credited with helping the firm to rebuild after the financial crisis and in growing its GCC-based corporate investment division.
He will be replaced by current head of Investcorp’s European corporate investment, Hazem Ben-Gacem, who will serve as co-chief executive alongside the incumbent co-chief executive Rishi Kapoor.
Daniel Lopez-Cruz, currently managing director in the European corporate investment team, will succeed Ben-Gacem.
“These appointments reflect the changing nature of our business as we become a bigger, more global, multi-asset class alternative asset manager,” said Mohammed Alardhi, executive chairman of Investcorp.
©2018 funds global mena