Arcapita names Hisham Abdulrahman Al Raee as CEO; Atif Abdulmalik retires
Arcapita Group Holdings Ltd, a leading asset management firm, has appointed Hisham Abdulrahman Al Raee as its new Chief Executive Officer (CEO), effective January 2025.
Hisham, who has been serving as a founding Partner and Deputy CEO, will succeed Atif Abdulmalik. Atif will step down from the role by the end of this year and will continue to serve on Arcapita’s Board of Directors. He played a pivotal role in establishing 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 United States and introducing pioneering real estate investment offerings in international markets.
In his new role, Hisham brings over 27 years of leadership experience, having served at Arcapita since 1997 in various key positions, including Deputy CEO and Chief Operating Officer. He is also a member of Arcapita’s Executive Management Committee and has been instrumental in the company's successful expansion within the GCC region and Asia.
Extending his best wishes to the outgoing CEO, Abdulaziz Hamad Aljomaih, Chairman of Arcapita, said, "On behalf of Arcapita’s Board of Directors, I would like to thank Atif for his stewardship and contributions over the years. Atif and his co-founding partners have built one of the Gulf’s most recognisable and respected financial brands and a pioneer in Islamic alternative investments. Atif has been an inspirational leader, guiding the business through market cycles while 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 decades-long industry experience, with the support of the executive team," he said welcoming the new CEO.
Atif also expressed his thoughts, saying, “It has been my absolute privilege to work with such a wonderful group 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 especially like to thank our shareholders, investors across the Gulf, and business partners around the globe who have helped make Arcapita the successful global financial institution it is today."
He extended his best wishes to Hisham, stating, "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."
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Hisham also commented, "Atif and I have worked closely 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 with a unique combination of global deployment capabilities, wide geographic reach, and local expertise. Today, we are at a pivotal moment in our industry due to macroeconomic and technological forces, which makes me particularly excited about the next phase of our evolution. We will continue to leverage our distinctive thematic opportunities while maintaining a personalised approach with our clients. I look forward to working with our shareholders, investors, management, and all stakeholders in continuing Atif’s legacy."