(MENAFN) AIML and Abraaj Holdings will be separated and independently managed, the company said in a statement that contained a number of changes to its governance and operating model which was issued on Friday 23 February.
The fund management business will continue to supervise the operations of all of Abraaj's funds globally on behalf of leading institutional investors and manage a portfolio of investee businesses across Asia, Africa, Middle East, Turkey and Latin America.
Arif Naqvi, founder of Abraaj, has passed the reins of the fund management entity to the Co-Chief Executives in order to further grow the business, and the executive leadership team at AIML will be led by Omar Lodhi and Selcuk Yorgancioglu as Co-Chief Executive Officers.
Omar Lodhi and Selcuk Yorgancioglu will carry out their roles with immediate effect, wince they will be responsible for the overall strategy of the fund management business but will each have different areas of responsibility.
As well as having a comprehensive review of its corporate structure with, AIML will have an independent board of directors in the future to which internal audit and compliance will directly report.
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