Investcorp Bank BSC, the Bahrain-based wealth management company has hired the expertise of Gabriel Aractingi to fill the role of CEO at it’s Saudi Arabian tranche.

According to sources, Aractingi, formerly headed up the banking giant, Morgan Stanley, business in the Kingdom of Saudi Arabia for several years. Aractingi joined Investcorp in 2016 in the position of Managing Director.

Aractingi was the American creditor's chief of private equity management in the North Africa and Middle East area and resigned in the middle of 2016.

Investcorp is most recognized for helping to facilitate the designer brands Gucci and Tiffany in going public under the management of its founder NemirKirdar.

“Investcorp is taking on a new strategy aiming for growth under the guidance of its chairman Mohammed Al Ardhi,” said Robert Stutgart at China based BHB Equity

According to China based BHB Equity, Investcorp announced last year that their new growth strategy will incorporate reconstructing its hedge fund sector and investing a greater amount in American and European property.

In March, the Saudi Arabian private wealth management company finalized the acquisition of 3i Group Plc’s debt administration tranche. The completion of this acquisition increased the company’s assets under management by approximately two fold. Started in 1982, Investcorp was among the very first firms from the Gulf region to invest funds into America and Europe.

Additionally, the private wealth management firm has been operating in Saudi Arabia. The firm purchased a share in Al Borg Medical Laboratories towards the end of last year and is reportedly in the planning stages of an IPO for Fitness Time gym chain, Leejam Sports.

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