Wafra Inc. Chief Executive Officer Fawaz Al-Mubaraki will depart at the end of the year after almost a decade at the helm of the New York-based investment firm, Bloomberg reported.
Chief Operating Officer Fergus Healy will take on the role of interim CEO at the alternative asset manager is owned by Kuwait’s state pension authority, according to Bloomberg, which cited a company spokesperson.
Wafra, with about $28 billion of assets under management, is owned by the Public Institution for Social Security of Kuwait, according to information on its website. Last month, it completed a monitory investment in Ardian, a European private investment firm with $192 billion of assets under management.
Interim CEO Healy joined Wafra in 2014. Previously, he was the CEO Meridian Fund Services Group and held roles at JPMorgan, Citigroup and Bank of Bermuda, according to the company website.
