Investcorp has just announced the hiring of Mr. Mohammed Al Shroogi (Bahraini), a Citigroup veteran.
It’s about time that Investcorp ends its abhorring policy of not hiring Bahrainis in the front office desk. Have a look at Investcorp site and you will notice the absence of any Bahraini investment professional. Sources indicate that it had always been Investcorp’s policy not to hire Bahrainis, even if talent is available. But it might be argued that Investcorp’s investments are in Europe & US, and thus local talent would be more appropriate. Such an argument could have been valid, however, if Investcorp hired Bahrainis when it launched Gulf (GCC) Growth Capital few years ago.
It’s unfair that Investcorp benefits from Bahrain’s tax-free environment, and geographical proximity to cash-rich regions, but it yet refuses arrogantly to provide further training to talented Bahrainis.
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