Bahrain’s Investcorp says appoints ex-Pimco CEO Mohamed El Erian: Reuters

Bahrain-based Investcorp said on Monday it has appointed Mohamed El-Erian, one of the biggest names in financial markets, to join its international advisory board.

El Erian is chief economic advisor to Allianz and former CEO of Pimco, the world’s biggest bond fund manager.

Investcorp, which was founded in 1982, is one of the oldest Middle Eastern private equity houses and is best known outside the region for listing luxury goods brands such as Gucci and Tiffany & Co.

El Erian joins Investcorp’s board as the company embarks on an ambitious strategy to become ‘one of the world’s leading global alternative investment firms’, the company said.

The company said in February is expects its assets under management to rise around $21 billion in the first half of 2017.

Abu Dhabi state investment fund Mubadala is the largest shareholder in the alternative investment firm, owning a 20 percent shareholding in Investcorp’s parent, Investcorp Bank.

Photo: Mohamed El-Erian speaks during an interview at Thomson Reuters in New York March 31, 2011.Reuters/Shannon Stapleton