Dubai-headquartered HBG Holdings has appointed Michael Toxvaerd as an executive director to establish a new office in London. The firm disclosed earlier in the week that it will be expanding operations and setting up two new offices.
Toxvaerd has more than 11 years of investing and operating experience, including five years on the AIM market, HBG said in a statement.
Prior to joining HBG, Toxvaerd was chief executive officer of Neutrahealth, an AIM-listed vehicle focused on making acquisitions in the alternative healthcare industry, where he spent more than four years leading its growth through acquisitions.
In his new role, Toxvaerd will spearhead the investment activities of HBG in London while working closely with the firm’s private equity and principal investment teams in the Gulf “to develop strategic partnerships between HBG and London based financial institutions”, the firm said.
HBG currently has about 50 staff members and it intends to expand by 10 percent in mainly senior positions covering investment and investor relations, an HBG spokeswoman said earlier in the week.
In October 2008, HBG hired Razak Dawood, Pakistan’s trade and industry minister from 1999 to 2002, to advise the firm on its investments in South Asia.
HBG now has offices in Dubai, Jeddah and London.