Gerry Grimstone, the former chairman of Standard Life Aberdeen, is to chair a new joint venture company set up by Aberdeen Standard Investments and Bahrain-based Investcorp which will invest in infrastructure projects in the Gulf.
Sir Gerry’s appointment follows his decision to step down from his roles as a non-executive director of Barclays Plc and as chairman of its subsidiary Barclays Bank Plc.
The joint venture will actively target greenfield and brownfield social and core essential infrastructure assets in the Gulf region in sectors including healthcare, education, utilities, social housing, smart cities, roads and rail.
Martin Gilbert, co-chief executive of Aberdeen Standard Investments, said: “Having someone of Sir Gerry Grimstone’s stature and quality chairing this new joint venture shows just how significant this opportunity is for both Investcorp and Aberdeen Standard Investments.
“We are delighted our joint venture will benefit from his expertise, energy and experience.”
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