23 Sep 2019
Investcorp, a leading global provider and manager of alternative investment products, held its Ordinary General Meeting (OGM) of shareholders today at Investcorp House in Bahrain. The OGM was held to discuss and approve Investcorp’s business and financial performance for the fiscal year ended June 30, 2019 as well as other matters, including the election of the new Board of Directors. Six new members were elected to Investcorp’s Board during the OGM, effective immediately. The meeting was chaired by Investcorp’s Chairman of the Board, Dr. Yousef Al-Ebraheem, and its Executive Chairman, Mohammed Alardhi.
Commenting on the outcome of the Ordinary General Meeting, Mohammed Alardhi, said: “We are pleased to welcome the new directors to our Board. 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. We are more than halfway to achieving our goal of reaching US $50 billion in assets under management, an impressive achievement amidst an uncertain global macroeconomic backdrop. Our progress demonstrates the strength and resiliency of our ambitious growth and diversification strategy as we scale and globalize our distribution platform while further enhancing our client offerings. We will continue to focus on investing in businesses and assets poised for growth and value creation, utilizing our proven, prudent and disciplined approach. We are also dedicated to enhancing our transparency and corporate governance to further strengthen the trust that our shareholders, clients, and portfolio companies have placed in the Firm".
The newest members of the Board include:
Joachim Faber is a seasoned business executive that brings over 20 years of experience in the European financial and banking industry, including working with globally renowned financial institutions Allianz and Citigroup. Mr. Faber is currently the Chairman of the Supervisory Board of Deutsche Boerse AG and also chairs the Shareholder Committee of JAB Holdings in Luxembourg and is a member of the Board of Coty Inc. in New York.
Dr. Mazen Fakeeh brings extensive knowledge in the regional healthcare industry. He is President of Saudi’s Fakeeh Care Group and Dr. Soliman Fakeeh Hospital Company. Dr. Fakeeh 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.
John William Fraser is a veteran of Investcorp. He was the 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. Mr. Fraser brings approximately 30 years of experience in investment advisory and management.
Sir Gerry Grimstone serves as the Chairman of the joint venture between Aberdeen Standard Investments and the Company since February 2019. He 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) Ltd. 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 plc 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”.
H.E. Eng. Abdullatif Al Othman is the Owner and CEO of Al Othman Engineering Consultants, a Saudi based engineering, architecture and interior design consultancy. 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). H.E. 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.
Gregory 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 Limited, China Overseas Property Holdings Limited, and Aviva Life Insurance Company Limited. Prior to his work in public service, Mr. So practiced law (corporate and banking) for over 24 years.