Saudi- Investcorp's new executive team takes charge

(MENAFN- Arab News) Investcorp a major provider and manager of alternative investment products has announced that the long planned changes to its executive management have come into effect.
This marks the culmination of a succession process following Nemir Kirdar's decision to retire as executive chairman and CEO. Kirdar served as CEO since the firm's founding.
Mohammed Al-Ardhi has assumed the position of executive chairman succeeding Kirdar who was recently appointed as chairman of the board of directors. Mohammed Al-Shroogi formerly president of Investcorp's Gulf Business and Rishi Kapoor formerly Investcorp's chief financial officer will assume the position of co-CEOs.
Al-Ardhi said: 'It is a great privilege to continue the work of Nemir Kirdar. Under his leadership Investcorp has become one of the leading investment institutions in the world. It is an important time for the business as we continue to grow and focus on providing what we believe to be superior alternative investment opportunities to our clients especially at a time when we are experiencing profound structural and sectoral changes in the regional and global economy. I look forward to working closely with all of our partners and utilizing my range of business experience to fully realize our vision for Investcorp to be a leading yet distinctive financial institution while maintaining our important ethos and commitment to our clients and shareholders.'
Kirdar said: 'Today is an important landmark in the next chapter in Investcorp's development. I step down from my position as executive chairman and CEO leaving in place an organization that is recognized globally as a leading and pioneering financial institution. Under the leadership of Al-Ardhi as executive chairman and Al-Shroogi and Rishi Kapoor as co-CEOs I am certain that Investcorp will continue to innovate provide its clients with exemplary service and be recognized globally as a trustworthy institution for many generations to come.'