G20 Holds Onto Protection of Jobs

G20 Labor and Employment Ministers meet. Asharq Al-Awsat
G20 Labor and Employment Ministers meet. Asharq Al-Awsat
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G20 Holds Onto Protection of Jobs

G20 Labor and Employment Ministers meet. Asharq Al-Awsat
G20 Labor and Employment Ministers meet. Asharq Al-Awsat

The G20 Labor and Employment Ministers have stressed the importance of protecting jobs and acknowledged the value of technology and a human-centered approach including by using Behavioral Insights in employment policymaking.

The Saudi Minister of Human Resources and Social Development, Eng. Ahmed Al Rajhi, said during the virtual meeting held by the ministers that “the COVID-19 crisis has created renewed impetus to safeguard labor markets and adopt social protection policies that secure people during and after crisis.”

“We are working with G20 countries to realize sustainable labor market recovery,” he told the meeting held under the G20 Saudi Presidency.

“This year, COVID-19 has brought an unprecedented global challenge with significant human costs. Fighting and overcoming the pandemic remains our highest and overriding priority,” said the ministers in their closing statement.

“We recognize the importance of protecting and promoting decent jobs for all, especially for women and youth, within our domestic and global labor markets.”

They stressed support for social protection systems to tackle gender inequalities.

The ministers also said they “acknowledge the value of bringing together technology and a human-centered approach including by using Behavioral Insights in employment policymaking.”



Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
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Bahrain’s Investcorp Announces Major Changes in its Executive Team

Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)
Bahrain’s Investcorp has more than $52 billion in assets under management (The company’s website)

Bahrain’s Investcorp, a leading global alternative investment firm, announced on Monday a major change in its executive leadership team, saying that co-CEO Hazem Ben-Gacem will leave after 30 years as the company embarks on a major management reshuffle in an effort to boost returns.

In a statement, Investcorp said co-CEO Rishi Kapoor had been appointed vice chairman and chief investment officer while Executive Chairman Mohammed Alardhi would assume additional responsibilities previously undertaken by the co-CEOs.

The group has more than $52 billion in assets under management and is known for taking luxury brands public.

Ben-Gacem will leave Investcorp effective Nov. 1, but will continue as vice chairman of investment unit Investcorp Capital, the company said.

As part of the shake-up, Investcorp said it had consolidated and organized its investment activities in three units.

Dave Tayeh is taking the helm of Private Equity and Private Equity like, Herb Myers and Mike O'Brien will be in charge of Real Assets, and Jeremy Ghose will lead the Credit business.

Yusef Al-Yusef will be leading the Global Distribution Platform.

Mohammed Alardhi, Executive Chairman at Investcorp, said: “As we increase our focus on leveraging the strength of our existing investment platform, we recognize it is the right time to broaden our executive leadership to support our future growth plans.”

“Rishi and Hazem have helped lead our business from strength to strength in the last several years after we launched our growth journey,” he added.