PineBridge opens regional base in Bahrain
Manama, January 27, 2013
US-based PineBridge Investments, a top global independent asset manager, has opened its Mena headquarters in Bahrain.
Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain was joined by dignitaries, and leading executives from the board of the firm, including Mervyn Davies, Lord Davies of Abersoch, CBE, non-executive chairman of PineBridge Investments, David T Jiang, CEO of PineBridge Investments, and Talal Al Zain, CEO of PineBridge Investments Middle East, as he officially opened the office in the GBCORP Tower, Bahrain Financial Harbour district in Manama.
The establishment of the headquarters will spearhead PineBridge’s expansion in the Middle East, North Africa and Turkey. The firm will offer world-class investment management services including innovative, core and alpha-orientated solutions.
Al Maraj said: “As one of the leading independent asset managers, PineBridge Investments possesses the expertise and capabilities that support the thriving financial ecosystem in the Kingdom.
“We are pleased with PineBridge’s decision to locate their Mena headquarters in Bahrain which is a strong validation of Bahrain’s open business and strong regulatory environment, highly skilled work force and proximity to other GCC markets.”
Lord Davies said: “The Board of PineBridge is delighted with this strategic move. This is an exciting region, and a testament to PineBridge’s tradition as a forward-looking organization.”
Al Zain said: “Today we celebrate an important milestone that demonstrates our belief in and commitment to the growth of this vibrant region. PineBridge Investments has experience and presence in developed and emerging markets spanning more than 60 years. Mena was a region where we have not had a substantial presence.”
“We see significant opportunities for investment and substantial liquidity across Mena and Turkey, which have many underpenetrated markets across all assets classes.”
“We are building an exceptional team of investment professionals able to offer world-class investment solutions and services across core areas such as private equity, investment and wealth management, product development and real estate.
The establishment of the regional headquarters will facilitate the flow of investment ideas and product innovation, enabling us to meet client demand for investment opportunities both in their own markets, and in markets further afield,” he added. – TradeArabia News Service
More Finance & Capital Market Stories
- Egypt regulator sets rules for index
- Dubai Islamic eyes Kenya, Indonesia for expansion
- ADCB to buy back 3pc of its shares
- GCC insurance growth outpaces developed markets
- Bahrain 'faces budget deficit, inflation challenges'
- Global Payment Services wins key certification
- BBK unveils big India expansion plans
- Kuwait GDP growth to hit 3.5pc in 2014
- Gulf shares tumble over EM exposure cut
- GCC bonds to gain from macro-economic climate
- French Business Council Dubai members up 18pc
- Egypt economy growth seen less strong than thought
- Sharjah approves $4.2bn budget for 2014
- Saudi non-oil sector posts solid growth in Feb
- Seera total income rises to $34m
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment