Saturday 25 January 2020

Investcorp names top industry experts into the board

MANAMA, September 23, 2019

Investcorp, a leading global provider and manager of alternative investment products, has inducted six new members into board with immediate effect. They are Joachim Faber, Dr. Mazen Fakeeh, John William Fraser, Sir Gerry Grimstone, Engineer Abdullatif Al Othman and Gregory Kam Leung So.

The announcement was made at its Ordinary General Meeting (OGM) held today at Investcorp House in Bahrain under the chairmanship of Dr Yousef Al-Ebraheem and Executive Chairman, Mohammed Alardhi, said a statement from the Bahrain-based company.

The OGM was held to discuss and approve Investcorp’s business and financial performance for the fiscal year besides announcing these appointments.

Faber is a seasoned business executive who brings over 20 years of experience in the European financial and banking industry, including working with globally renowned financial institutions Allianz and Citigroup.

He is currently the chairman of the supervisory board of Deutsche Boerse AG and also chairs the shareholder committee of JAB Holdings in Luxembourg. He is also a member of the Board of Coty Inc. in New York.

Dr Fakeeh brings extensive knowledge in the regional healthcare industry. He is President of Saudi’s Fakeeh Care Group and Dr Soliman Fakeeh Hospital Company.

He serves as Director of Saudi Enaya Cooperative Insurance Company and is a member of the Board of Trustees of the Saudi Commission for Healthcare Specialists.

Fraser is a veteran of Investcorp holding key position such as chief investment officer of Investcorp Credit Management business where he played an invaluable role in growing both the US credit business and the firm’s global credit investment management platform.

He brings approximately 30 years of experience in investment advisory and management.

Grimstone is the chairman of the joint venture between Aberdeen Standard Investments and the Company since February. He also chairs Standard Life Aberdeen’s insurance business in China, Heng-An Standard Life and serves as a Board member of HDFC Life Ltd, one of India’s largest insurance companies and Standard Life (Asia).

He is also an independent nonexecutive director of Deloitte North West Europe and an advisor to the Board of the Abu Dhabi Commercial Bank. Sir Grimstone is the immediate past Chairman of Barclays Bank which oversees Barclays’ Corporate and Investment Bank and International Cards and Payments businesses and also of Standard Life Aberdeen, the UK’s largest savings and investments business.

He is also a decorated member in the UK public sphere and was knighted in 2014 for “Public Service, particularly to Defence and Business”.

Al Othman is the owner and CEO of one of Saudi Arabia’s largest engineering, architecture and interior design consultancies. He brings with him extensive knowledge of Saudi Arabia’s private sector development, having served as the Governor and Chairman of the Board of the Saudi Arabian General Investment Authority (SAGIA).

Al Othman is also a board member of Saudi Arabia’s General Authority for Competition. In the private sector, he served as chairman of several Saudi industry heavyweights including Sadara Chemical Company, a joint venture between Saudi Aramco and Dow Chemical Company.

Kam Leung So is the former secretary for Commerce and Economic Development of Hong Kong. He currently serves as an Independent Non-Executive Director of Orient Overseas International, China Overseas Property Holdings and Aviva Life Insurance Company.

Prior to his work in public service, Kam Leung So practiced law (corporate and banking) for over 24 years, said the statement from Investcorp.

Welcoming the new members, Alardhi, said: "We look forward to working closely together and are confident that their wealth of experience will contribute to our Firm’s success as we continue to deliver on our strategy in FY2020 and beyond. We are also pleased to report that nine of our existing Board members continue to serve as members of our new Board of Directors."

"Our achievements in fiscal year 2019 will position us to generate long term value for our shareholders," he added.-TradeArabia News Service


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