Thursday, 30 June 2016
Last updated 4 hours ago
Mar 29 2012 | 9:35am ET
PineBridge Investments has hired the former head of Bahrain's sovereign wealth fund to lead its expansion into the Middle East and North Africa.
Talal Al Zain's appointment as CEO for the region marks PineBridge's decision to launch full-service operations, including funds, there. The New York-based firm has a presence in Dubai and Turkey, but employs fewer than nine people in the region; it plans to increase that number by about 35 over the next year.
The $67.3 billion asset manager is considering several locations for its MENA headquarters, including Al Zain's old haunt, Bahrain.
"PineBridge is well-established, with global capabilities in key growth markets and innovative investment solutions," Al Zain said. "I look forward to expanding its presence in the MENA region, and strengthening the firm’s product offering, especially private equity deal flow, to benefit its global client base."
In addition to his duties in the MENA region, Al Zain was named co-head of alternative investments at PineBridge and a member of the firm's executive committee.
Prior to joining PineBridge, Al Zain was CEO of Bahrain Mumtalakat Holding.