June 25, 2018 / 9:49 AM / 3 months ago

Co-CEOs of Abraaj investment management business resign from board

DUBAI/ISTANBUL, June 25 (Reuters) - The co-chief executives at Dubai-based Abraaj’s investment management business have resigned from their positions on the board, the company said on Monday.

A court in the Cayman Islands appointed provisional liquidators for Abraaj Holdings and Abraaj Investment Management Ltd (AIML) earlier this month.

Omar Lodhi and Selcuk Yorgancioglu will no longer serve as directors of the board of AIML, the company said in a statement. It added that move does not change their co-CEO titles.

Last week Abraaj agreed to sell its Latin America, Sub Saharan Africa, North Africa and Turkey Funds management business to U.S. investment management firm Colony Capital.

Reporting by Hadeel Al Sayegh, Davide Barbuscia and Ebru Tuncay; editing by Saeed Azhar and Jason Neely

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