Dubai International Capital beefs up its board

by Rob Corder Wednesday, 07 February 2007

Sameer Al Ansari has handed over operational control for Dubai International Capital to Anand Krishnan.

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Krishnan has been promoted from Chief Financial Officer to become Chief Operating Officer, with Al Ansari adding the position of Executive Chairman to his continuing role as CEO for the company.
Krishnan will be responsible for the strategic and operational management of DIC, the international investment arm of Dubai government-owned Dubai Holding.

Prior to joining DIC, Krishnan was with JPMorgan Chase in New York where he held the position of Managing Director.

DIC has also beefed up its boardroom with two new non-executive directors.

Sir Peter Bonfield, best known for his years as CEO of British Telecoms, joins the team. As does Martin Angle, a director of several firms owned by private equity group Terra Firma.

Under Al Ansari, DIC has developed a strategy that involves backing incumbent management and in investing in the businesses it acquires.

It is one of the most active investment companies in the Middle East with total investments standing at approximately US$ 5.5 billion. Its acquisitions include the Tussauds Group, Doncasters Group Limited and the UK-based Travelodge Hotels, as well as a substantial stake in DaimlerChrysler.

The company recently hit the headlines with an aborted attempt to acquire Liverpool Football Club. It withdrew its bid when two American investors tabled a higher offer.



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