PineBridge establishes MENA HQ in Bahrain
28 January 2013
News, Middle East, North America
By Asia Asset Management
PineBridge Investments has officially opened its Middle East and North Africa (MENA) headquarters in Bahrain in capital Manama’s Bahrain Financial Harbour district.
The establishment of the headquarters will spearhead the independent asset manager’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, 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.
The CBB governor 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 added: “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 organisation.”
PineBridge Investments Middle East’s CEO added: “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.
“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 the firm 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 looking 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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