VCI Global Announces Plans to Accelerate Revenue Growth and Advance AI Innovations

KUALA LUMPUR, Malaysia, March 13, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”) proudly announced its strategic expansion of its global footprint from Asia by opening offices in New York and London later this year, as well as setting up an AI Research and Development (R&D) Center in Frankfurt to better serve our growing pipeline of consulting clients and ambitious technology ventures.

These New York and London offices will be led by the recently appointed Group Executive Director, Marco Baccanello. His highly experienced background in Silicon Valley and New York and his past experience with PwC in the UK and US brings valuable expertise and Capital Market relationships to the Company. He is an accomplished Corporate Finance and Private Equity executive, specializing in advising fast growing technology companies on financing, growth strategies and merger and acquisitions. His prior experience includes work in the mobile games and technology sectors, overseeing multiple transactions with companies such as Adobe, GameStop, and Cox Communications in the US.

VCI Global’s AI R&D Center in Frankfurt, Germany, will be headed by the Company’s newly appointed Chief AI Officer (CAIO), Pascal Lauria, who brings over 23 years of experience as a veteran technology entrepreneur specializing in AI and machine learning. Pascal previously founded Cogia Intelligence, serving as CTO and CEO for over a decade, delivering cutting-edge AI solutions to Fortune 500 companies like BMW, Audi, VW, and Lufthansa. Pascal will be responsible for overseeing the Company’s portfolio of technology businesses, and the Frankfurt office will also serve as VCI Global’s European office.

“With Marco’s extensive experience in capital markets and technology, he is the right person to lead the US and UK offices. I’m confident that Pascal’s knowledge and experience in AI and technology will elevate VCIG to a different level, offering unparalleled opportunities to meet the evolving needs of our clients and expand our technology offerings,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

The management is confident that these expansion plans will fuel accelerated revenue growth as the business continues to expand. By incubating innovative technology, and strategically bringing it to the market in a fully monetized manner across a global marketplace, the Company is positioned to deliver highly material revenue and monetization opportunities in the coming years. VCI Global’s AI R&D Center aims to nurture potential unicorn businesses, enhancing its future value proposition.