Asset manager gives vote of confidence to Bahrain with new office

Bahrain hasn’t been a popular choice for financial services firms setting up new offices over the past 18 months, but one area where it has remained robust is in its traditional stronghold of asset management.

The latest firm to offer a tentative vote of confidence is PineBridge Investments, which is setting up its Middle East headquarters in Bahrain in addition to offices in Dubai and Istanbul.

Talal Al Zein, who formerly led Bahrain’s sovereign wealth fund Mumtalakat Holding Company, will head up the new venture. It’s likely that he will recruit a modestly-sized team in the near future.

“As a global firm, MENA is one of the few regions where we have not had a substantial presence to date. Under Talal Al Zain’s leadership, I expect PBIME to build upon our global expertise and regional experience,” said David Jiang, CEO of PineBridge Investments.