PineBridge Investments to establish MENA headquarters in Bahrain
- Bahrain: Monday, July 23 - 2012 at 13:55
- PRESS RELEASE
PineBridge Investments ("PineBridge"), the global multi-asset class investment manager, announced that it has selected Bahrain as the location for its Middle East and North Africa ("MENA") headquarters.
PineBridge has received a Category 1 license from the Central Bank of Bahrain (CBB) and is currently in the process of establishing its regional headquarters in Manama. The new firm, PineBridge Investments Middle East B.S.C. (c) ("PBIME") will cover the Middle East, North Africa and Turkey. PineBridge currently has offices in Dubai and Istanbul.
H.E. Kamal bin Ahmed, Acting Chief Executive of the Bahrain Economic Development Board (EDB) said, "We are delighted to welcome PineBridge to Bahrain. PineBridge has strong experience in a range of international markets and the management team based in Bahrain has impressive expertise in the MENA region. Attracting international investment forms an important part of our plan to create long term sustainable growth in Bahrain, make the private sector the engine of economic expansion and create jobs and opportunities for all Bahrainis. We wish PineBridge every success."
Talal Al Zain, CEO of PineBridge Investments Middle East said: "With its strong and recognized regulatory environment, we believe that the Kingdom of Bahrain is a good location to headquarter PBIME. Backed by an extensive global network, broad capabilities and established track record across all asset classes, PBIME is well positioned to serve diverse sets of clients in key investment categories, including large institutions and private clients looking for differentiated products and competitive risk adjusted returns."
"We will also serve as a link between Asian and Middle Eastern investors to facilitate access between the two markets. PBIME will offer world-class private equity, wealth management services and access to PineBridge global products to clients in MENA."
Talal Al Zain added: "I would also like to extend my thanks to the Central Bank of Bahrain and the Bahrain EDB for their support."
A key element of Bahrain's growing prosperity is the financial services sector which is developing in line with the Kingdom's status as the region's most well established financial services centre. With over 400 licensed institutions, the sector is the largest contributor to total GDP (27%) and contributed nearly 23% of the total increase in GDP over the last six years.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.