Arcapita Group Holdings today (October 8) announced the appointment of Hisham Abdulrahman Al Raee, Founding Partner and Deputy CEO, as its new Chief Executive Officer effective January 1, 2025.

 

He take over the new role from Atif Abdulmalik who retires on December 31, 2024 after 30 years of leadership as part of a structured succession plan. 

 

Atif will continue to serve as a member of the Arcapita Board of Directors, sauid the company in a srtatener.

 

Atif established Arcapita as the world’s first shari’ah compliant alternative investment firm, completing many groundbreaking transactions, including the first shari’ah compliant leveraged buyout in the US and introducing the first of its kind real estate investment offerings in international markets. 

 

Arcapita pioneered sophisticated sharia’h compliant investment products and structures, which have now become industry norms, and which led to the rapid growth in Islamic finance over the last 30 years. 

 

Al Raee is a member of Arcapita’s Executive Management Committee and has played a key role, alongside Atif, in Arcapita’s success and resilience since its inception. 

 

As deputy CEO and previously COO, Hisham has been responsible for the day-to-day operations of the firm, ensuring the successful execution of its growth strategy over the past 10 years, said a statement from Arcapita. 

 

Under his leadership, Arcapita was able to establish strong and deep-rooted relationships with investors, partners and key stakeholders.  He also co-led the successful expansion of the business within the GCC region and in Asia.   

 

Commending Atif for his leadership, Chairman Abdulaziz Hamad Aljomaih said: "On behalf of Arcapita’s Board of Directors, I would like to thank him for his stewardship and contributions over the years. Atif and his co-founding partners have built one of the Gulf’s most recognizable and respected financial brands and an innovator in Islamic alternative investments."

 

"Atif has been an inspirational leader guiding the business through market cycles; always remaining true to his values of commitment, integrity and trust. I am confident that Arcapita will continue to evolve and build on its well-established track record under Hisham’s leadership drawing on his extensive decades-long industry experience and with the support of the executive team," he stated.

 

In his comments, Atif said: "It has been my absolute privilege to have worked with such a wonderful set of colleagues to build and grow Arcapita into the thriving global alternative asset manager it is today with six offices across the GCC region, North America, Europe, and Asia."

 

"I would particularly like to thank our shareholders, investors across the Gulf, and business partners across the globe who helped make Arcapita the successful global financial institution it is today. Now is the right time to pass the torch to Hisham and I look forward to working with him and our exceptional executive team as a Board member," he stated.

 

Lauding him for all the efforts, Hisham said: "Atif and I have worked closely together over the years and formed a strong working relationship. He has been an inspirational leader to all of us at Arcapita and with his guidance, we have transformed the firm into a platform that has a unique combination of global deployment capabilities with wide geographic reach and local expertise."

 

Arcapita Group Holdings Limited is a premier alternative asset manager with a total transaction value in excess of $30 billion across more than 100 investments. 

 

"Today, we are at a pivotal moment in our industry as a result of macroeconomic and technological forces, which makes me particularly excited about the next phase of our evolution," he noted. 

 

"We will continue to leverage our distinctive thematic opportunities while maintaining a personalized approach with our clients.  I look forward to working with our shareholders, investors, management and all stakeholders on continuing Atif’s legacy," he added.-TradeArabia News Service