Investcorp hires former head of Citigroup’s Middle East operations

Including leading Citigroup in the Middle East, Al-Shroogi spent 32 years at the institution.

Nemir A Kirdar, executive chairman and CEO of Investcorp, said, "Mohammed Al-Shroogi is one of the most experienced bankers in the Gulf, having had an exemplary career running Citigroup across the region. He will bring unparalleled depth of expertise and he will be instrumental in positioning our great firm in this region for the future."

Earlier this month it was reported that Investcorp had its eye on Middle Eastern luxury goods companies as part of its plan to invest $650m in the MENA region over the coming two years.

The firm has five lines of business: private equity, hedge funds, real estate, technology investment and Gulf growth capital. Founded in 1982, Investcorp has around $13bn in invested assets under management.

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