Emivest appoints new Chief Investment Officer

As the new investment head, Power will manage the conglomerate's private equity investment through capital participation in its partner companies and initiate new projects through joint ventures in the manufacturing, education, healthcare and services sectors.

Anthony Power joined Emivest as General Manager of Business Development in 2003 and carried out many successful transactions. Prior to joining Emivest, he is credited for formulating and implementing long and short term plans that resulted in 20 per cent increase of the company revenue in important markets such as Malaysia, Singapore, Kuwait, Brunei and the UAE, and reduced operational cost by more than 10 per cent. His knowledge and financial expertise has initiated changes in processes and refined existing business models, which translated to greater productivity for the companies he has managed during his earlier stint.

"We are very pleased to name Anthony Power as the new Chief Investment Officer of Emivest," said Buti Saeed Al Ghandi, Chairman of Emivest. "As Emivest enters the next phase of its growth in different markets and sectors, Anthony's overall track record in financial and operations management makes him an ideal person for this post."

Tarek Niazi, Group CEO of Emivest, welcomed Power's appointment. He said, "Anthony holds an excellent track record, which has seen him manage and execute several major investments for Emivest and he will be playing an active role in expanding Emivest portfolio locally as well as internationally. This appointment continues to support the strategic direction set by the conglomerate to strengthen its regional and international presence and witness continued growth and expansion in the long term."

"I am pleased to assume the post of Chief Investment Officer of Emivest at a time when there is so much happening in the region. The challenge now is how to sustain the growth of the conglomerate and strategically position it as the business partner of choice internationally. By identifying selected investment opportunities I aim to provide our shareholders outstanding returns," said Power.

Power, 39 years, holds masters in Civil Engineering & Bachelors Degree in Mechanical Engineering from the State University of New York at Buffalo, U.S.A. He has attended several training programmes across the U.S.A. in finance and related areas.

He is backed by 15 years of experience in key international markets such as Asia, Europe, the United States and the Middle East in business and funding strategy. He was also the Chief Operating Officer of SITA International for Malaysia, Singapore and Brunei, where he is credited with having implemented new investment, operational, health, safety and revenue growth. In fact at the age of 29, he was managing operations worth $110 million.