Thursday, 11 February 2016
Last updated 16 hours ago
Jul 25 2012 | 10:00am ET
Four months after hiring a new CEO for the Middle East and North Africa, PineBridge Investments has settled upon his hometown as its new regional headquarters.
The New York-based firm said yesterday that it had won a license from the Central Bank of Bahrain and would set up shop in the tiny Persian Gulf island country. While PineBridge already has offices in Istanbul, Turkey, and Dubai, the selection of Bahrain isn't terribly surprising: Regional CEO Talal Al Zain formerly headed the country's sovereign wealth fund, Bahrain Mumtalakat Holding.
The new PineBirdge Investment Middle East will give PineBridge access to "underpenetrated markets across all asset classes," the firm said.