Brookfield Asset Management Announces Appointment of Hutham Olayan to Board of Directors

Rhea-AI Summary

Brookfield Asset Management has appointed Hutham Olayan to its board of directors. Olayan, Chair of The Olayan Group, is recognized for her extensive experience as a long-term investor across various asset classes. Brookfield's Chair, Frank McKenna, highlighted Olayan's contributions to enhancing board diversity, as her addition increases the number of female directors to six, forming a majority among independent directors. Brookfield manages approximately US$575 billion in assets across multiple sectors.

Positive

• Appointment of Hutham Olayan brings extensive experience in international business and asset management.
• Increases female representation on the board to six, strengthening diversity.

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• None.

BROOKFIELD NEWS, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (“Brookfield” or the “Corporation”) (TSX: BAM.A, NYSE: BAM) announced today the appointment of Hutham Olayan to its board of directors. Ms. Olayan is Chair of The Olayan Group, a multinational investment enterprise as well as a leading operator of businesses in Saudi Arabia, where the group originated in 1947. Ms. Olayan has decades of experience as a long-term investor in various asset classes in global markets.

Frank McKenna, Chair of the Board of Directors of Brookfield, stated, “We are thrilled to welcome Ms. Olayan to Brookfield. As an accomplished business leader and skilled director, she brings vast knowledge and significant experience in international business to the board of directors.” Mr. McKenna continued, “Ms. Olayan’s appointment furthers our strong commitment to diversity throughout Brookfield and brings the number of our female directors to six, which constitutes – I am very pleased to be able to say – a majority of our independent directors.”

Brookfield Asset Management Inc. Brookfield Asset Management is a leading global alternative asset manager with approximately US$575 billion of assets under management across real estate, infrastructure, renewable power, private equity and credit. Brookfield owns and operates long-life assets and businesses, many of which form the backbone of the global economy. Utilizing its global reach, access to large-scale capital and operational expertise, Brookfield offers a range of alternative investment products to investors around the world—including public and private pension plans, endowments and foundations, sovereign wealth funds, financial institutions, insurance companies and private wealth investors.

Brookfield Asset Management is listed on the New York and Toronto stock exchanges under the symbols BAM and BAM.A, respectively.

For more information, please contact:

Media	Investor Relations
Claire Holland Tel: +1 416 369 8236 Email: claire.holland@brookfield.com	Linda Northwood Tel: +1 416 359 8647 Email: linda.northwood@brookfield.com

FAQ

Who is Hutham Olayan and what is her role in Brookfield Asset Management?

Hutham Olayan is the newly appointed director on the board of Brookfield Asset Management, bringing decades of experience as a Chair of The Olayan Group.

What impact does Hutham Olayan's appointment have on Brookfield's board diversity?

Her appointment increases the number of female directors to six, constituting a majority of the independent directors.

What is the significance of Brookfield Asset Management's assets under management?

Brookfield manages approximately US$575 billion across various sectors, highlighting its position as a leading alternative asset manager.

When was Hutham Olayan appointed to the board of Brookfield Asset Management?

Hutham Olayan was appointed to the board on January 5, 2021.