Bahrain-based alternative investment firm Investcorp has appointed a new managing director to head its private wealth business for the Saudi Arabian market.
Mashaal AlJomaih will be based in the Saudi capital Riyadh, Investcorp said.
AlJomaih has more than 20 years of experience in investment banking. Before joining Investcorp, he held top positions at BNP Paribas Investment Company and JP Morgan Chase. He also co-founded a UK-based real estate consulting company.
His appointment comes even as Investcorp recently launched a $500 million pre-initial public offering investment vehicle to partner with Saudi family businesses aspiring to go public with a focus on four industry verticals: consumer, healthcare, transport and logistics, and business services.
Investcorp also formed a joint venture with Abrdn plc and Aberdeen Standard Investcorp Infrastructure Partners, aimed at participating in the economic transformation in the Gulf region and the wider MENA region. The JV will be backing sustainable core infrastructure projects.
AlJomaih holds a BSc in Business Administration from King Saud University, Saudi Arabia. He also holds an MBA, Finance and MIS concentration from Clark University, Worcester, Massachusetts.
“His deep knowledge and understanding of Saudi Arabia’s market, which is a key market for Investcorp, as well as his experience in wealth management, make him ideal for this role,” said Yasser Bajsair, CEO of Investcorp Saudi Arabia.
“We believe the economic transformation of the Kingdom and the evolution of the family business model have created opportunities to establish higher value and larger scale businesses that require complex and sophisticated processes and enhanced management capabilities. As Managing Director for Private Wealth, Mashaal will also support the expansion of our client base in Saudi Arabia,” Bajsair said.