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Investcorp names Kirdar as new chairman

MANAMA, April 26, 2015

Bahrain-based Investcorp, a leading alternative investment firm, has appointed Nemir Kirdar as the chairman of its board of directors, effective from July 1.

Kirdar will replace Abdul-Rahman Salim al-Ateeqi, who will retire as chairman at the end of the current fiscal year on June 30. Ateeqi has served as chairman since the company's inception in 1982, said the company in a statement on Sunday.

Investcorp had announced in October that Kirdar would retire in June 2015 from his positions as executive chairman and chief executive.

Al-Ateeqi said: “In my many years at Investcorp, I have had the pleasure of working with so many esteemed colleagues and have seen Investcorp grow into a globally recognised financial institution. It has been an honour to be involved in Investcorp’s incredible journey from the very start and I look forward to watching its continued development.”

Thanking Al Ateeqi for his outstanding and valued contribution to Investcorp’s culture and its extraordinary success, Kirdar said: "As we move into the next phase of our growth, I am honoured by this opportunity to continue to serve Investcorp and its investors in a new role."

Mohammed Al Shroogi, president of Gulf business, and Rishi Kapoor, chief financial officer, will become co-chief executives from July 1, subject to regulatory approval.

Mohammed al-Ardhi, a non-executive board director since September 2008, will succeed Kirdar as executive chairman.-TradeArabia News Service




Tags: Investcorp | Chairman |

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