Investcorp selects new co-chief

Investcorp, the Bahraini alternative asset manager that oversees $22.2 billion, made a number of senior management changes that will appoint Hazem Ben-Gacem become co-chief executive after Mohammed Al Shroogi announced his plan to retire from the role in August 2018.

As part of the changes, Daniel Lopez-Cruz, a managing director in the European corporate investment team, will become head of that business.

“These appointments reflect the changing nature of our business as we become bigger, more global, multi-asset class alternative asset manager,” said Mohamed Alaradhi, executive chairman of Investcorp. “We are making excellent progress in the delivery of our growth strategy to better serve our clients on a global level and these changes align responsibilities with our strategic priorities.”

Mr Al Shroogi, who joined Investcorp in 2009, will remain with the firm as a senior adviser. Mr Ben-Gacem, whose appointment is subject to regulatory approval, has been the head of the European corporate investment team since 2012. Rishi Kapoor will remain a co-chief executive.

“I am personally extremely grateful to the significant contribution Mohammed Al Shroogi has made to our business in the Gulf and I am delighted he will continue with the firm as senior advisor,” Mr Alardhi said.