The appointment of Talal Al Zain as chief executive officer coincides with a planned expansion of PineBridge’s Mena operations, which will see the firm build on its private equity capabilities in Istanbul and distribution office in Dubai, with the establishment a new regional headquarters.
Al Zain, who spent four years with Mumtalakat – the investment arm for the non-oil and gas assets of the Kingdom of Bahrain – will additionally serve on PineBridge’s executive committee, and as co-head of alternative investments with Hans Danielsson, the company’s head of investments.
Mervyn Davies, non-executive chairman of PineBridge’s board of directors, said: “This announcement represents yet another step forward for PineBridge in the execution of the board’s strategic vision, positioning the firm to [capitalise] on unique investment management opportunities in high growth markets.”
PineBridge, which is headquartered in New York, managed $67.3bn in assets at the end of 2011. The company runs listed equity, fixed income, private equity and hedge fund strategies for institutional and individual clients, and has more than 800 employees.
