PineBridge opens its MENA headquarters in GBCORP Tower, Bahrain
- Bahrain: Monday, January 28 - 2013 at 12:23
- PRESS RELEASE
PineBridge Investments, the global independent asset manager, officially opened its MENA headquarters 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.
H.E. Rasheed Mohammed 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 sign of the progress that PineBridge is making."
Talal 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. The Middle East and North Africa 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."
He added, "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."
PineBridge Investments is increasing its focus on emerging markets, including the Middle East. In July 2012 PineBridge received a Category 1 License from the Central Bank of Bahrain. PineBridge Investments Middle East B.S.C. (c) will cover the Middle East, North Africa and Turkey, and is well positioned to serve a diverse set of clients in broad ranges of investment categories, including large institutions and private clients looking for differentiated products and competitive risk return.
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