Bahrain’s Investcorp has announced a series of changes to its senior management that the company hopes will help accelerate its growth strategy.
According to the company, the changes were in part driven by Mohammed Al-Shroogi’s announcement that he would retire as co-CEO in August.
Al-Shroogi, who first joined Investcorp in 2009 and is credited with spearheading the company’s recovery from the global financial crisis, will remain with the firm as a senior advisor.
Investcorp’s other co-CEO, Rishi Kapoor, will remain in his position, and will be joined of Hazem Ben-Gacem, who has been leading the firm’s European corporate investment team since 2012.
Ben-Gacem will be replaced as managing director of the European corporate investment team will be replaced by Daniel Lopez-Cruz.
According to the company, the firm’s chief administrative officer, Ramzi Abdel Jaber and chief financial officer, Jan Erik Back, will both report directly to executive chairman Mohammed Alardhi.
“These appointments reflect the changing nature of our business as we become a bigger, more global, multi-asset class alternative asset manager,” Alardhi said. “We are making excellent progress in the delivery of our growth strategy to better serve our clients on a global level and these changes align responsibilities with our strategic priorities.”
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