26 Apr 2015
Investcorp, a leading provider and manager of alternative investment products, today announced the election, by the Board of Directors, of Nemir Kirdar, the Bank’s Executive Chairman and CEO, as Chairman of the Board of Directors of Investcorp Bank B.S.C. The appointment will be effective from July 1, 2015.
The move follows the decision by H.E. Abdul-Rahman Salim Al-Ateeqi to retire as Chairman of the Board at the end of the current fiscal year on June 30, 2015. H.E. Al-Ateeqi has served as Chairman of the Board since inception. Under his outstanding Chairmanship, Investcorp has become widely recognized for its excellent performance in global alternative investments with assets under management now standing at over $11 billion.
H.E. 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.”
Nemir Kirdar commented: “On behalf of the entire firm, I would like to offer heartfelt thanks to H.E. Al-Ateeqi for his outstanding and valued contribution to Investcorp’s culture and its extraordinary success. 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.”
Following Nemir Kirdar’s decision to retire as Executive Chairman and CEO, a position he has held since the firm’s founding, Mohammed Al Ardhi will succeed him as Executive Chairman and Mohammed Al-Shroogi, President, Gulf Business, and Rishi Kapoor, Chief Financial Officer, will be appointed as Co-CEOs. These appointments will be effective from July 1, 2015 and are subject to regulatory approval from the Central Bank of Bahrain.