Leading global investment firm KKR on October 11 announced the appointment of Joe Bae and Scott Nuttall as new co-chief executive officers with immediate effect. In addition to this, the firm said the co-founders of KKR -- Henry Kravis and George Roberts -- will remain actively involved as executive co-chairmen of KKR’s board of directors.
"Whether reflecting on the business, our mission or the team that undertakes it, we are proud of what we have built to support companies and serve our clients over the last four and a half decades. Joe and Scott—over the last 25 years—have played a significant role in that endeavour and in shaping the firm, its culture, and our market-leading businesses into what they are today," KKR Co-Founders Henry Kravis and George Roberts said in a statement.
ALSO READ: Uday Kotak says bank is prepared for a succession plan after his term ends in December, 2023
"As Co-Presidents and Co-Chief Operating Officers, they have worked collaboratively and cemented a strong leadership team that has taken the firm to new heights,” they added.
Co-founded in 1976 by first cousins George Roberts and Henry Kravis together with Jerome Kohlberg, KKR has a capital markets business, a retirement and life insurance business through Global Atlantic, and hedge fund partnerships, including with Marshall Wace. Moreover, the US-based firm is a global leader that invests across many alternative asset classes in addition to private equity, including leveraged and alternative credit, infrastructure, real estate, growth equity, impact, core, and energy.
Both Bae and Nutshell joined KKR in 1996 and their appointment is the firm’s second pair of co-chief executive officers. They have served as co-presidents and co-chief operating officers of KKR since July 2017.
"We have spent virtually our entire careers at KKR because Henry and George are visionaries who not only shaped the business world but created a really special firm. We are fortunate to have learned from and been mentored and inspired by two of the world’s most innovative investors of all time. We could not be more proud of the firm’s mission and the people who undertake it and we look forward to working alongside Henry and George in the years ahead. As a team, we are deeply honoured to be stewards of the capital of our clients and shareholders and, with our Partners, to lead the talented team of employees who collaborate to deliver for them every single day,” Joe Bae and Scott Nuttall said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
