SoftBank Vision Fund Promotes From Within After Departures
SoftBank Vision Fund Promotes From Within After Departures
(Bloomberg) -- SoftBank’s Vision Fund, the $100 billion investment vehicle that counts WeWork, DoorDash Inc. and Uber Technologies Inc. among its bets, has promoted several staff following a slew of departures, according to people with knowledge of the matter.
The promotions include Abu Dhabi-based Faisal Rehman, who rises to managing partner from his previous rank of partner, said the people, who requested anonymity because the appointments haven’t publicly been announced.
Additionally, a pair of directors, Ramzi Ramsey, based in the San Francisco Bay Area and London-based Carolina Brochado, have been promoted to partner. Other new partners include Saba Ahmed, previously a corporate finance director; Antoine Theysset, an operating group executive; and Aidan O’Connor who is chief compliance officer in the Americas, one of the people said.
The fund’s total bonus pool was unchanged from last year, some of the people said. The size of the pool couldn’t immediately be determined.
A SoftBank representative declined to comment.
Earlier this week, SoftBank Group Corp. told WeWork investors that it could withdraw from an agreement to buy $3 billion in stock. SoftBank shares have slumped almost 40% in the past month on concern about the Japanese company’s debt load and economic turmoil.
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