ADCorp Appoints Talal Al Zain As The Chief Executive Officer
Abu Dhabi-- 20 November 2016: Abu Dhabi Financial Group (ADFG) and also GFH Financial Group (GFH) today revealed the consultation of Mr. Talal Al Zain as the Chief Executive Officer of the newly established ADCorp, the first Islamic financial institution at the Abu Dhabi Global Market (ADGM).
ADCorp is incorporated and also based on final regulative authorization, will certainly be managed by the ADGM Financial Solutions Regulatory Authority (FSRA) under a Group 5 "Islamic financial institution licence. It was established with certified funding of US$ 100 million as well as its establishing shareholders are ADFG as well as GFH.
Leading ADCorp will be financial industry veteran Talal Al Zain. He is recognised as one of the region's prominent property administration execs. Most recently, he was the Chief Executive Officer of PineBridge Investments Center East as well as had joint administration responsibility for PineBridge's alternative financial investments capabilities, as Co-Head of Choice Investments Prior to signing up with PineBridge, Mr. Al Zain was the Chief Executive Officer of Bahrain Mumtalakat Holding Company, the sovereign wealth fund and financial investment arm for the Kingdom of Bahrain.Formerly he invested 18 years with Investcorp as Managing Director and Co-Head of Placement as well as Connection Administration. He also held elderly duties at the Chase Manhattan Bank, Geneva secretive Banking as well as Investment Banking; and Citibank Corporate Financial Department in Bahrain.
Mr. Jassim Alseddiqi, CEO of ADFG, claimed, "We're happy to reveal the facility of ADCorp. Collaborating with GFH Financial Group, we laid out to develop a brand-new, introducing Islamic financial institution that could maximise as well as record the continuous development in Islamic investment and also finance around the world. We are specifically happy to have Mr. Talal Al Zain at the helm. He has a clear vision and unmatched experience, and also we are positive that will make sure that ADCorp develops right into a first-rate Islamic financial institution."
Mr. Hisham Al Rayes, CEO of GFH, added, "With the production of ADCORP, we are happy to introduce our financial investment in another distinct and also specialist monetary player in the Islamic banking market. Along with ADFG, we visualized the growth of an organization that can supply a distinct new financial investment offering."
Talal Al Zain, CEO of ADCorp, said, "I'm thrilled to be leading this brand-new and also exciting venture with the support and support of ADFG and also GFH, 2 prominent local monetary institutions. ADCorp's tasks will concentrate on Business Money, Wealth and Asset Monitoring with a required to determine as well as supply impressive as well as tailor-made items and services to organizations and ultra high-net- worth clients. We are likewise pleased to be running within the ADGM, which provides us a strategic area, access and noise regulative frameworks. With solid structures, solid support as well as an unique approach, we eagerly anticipate developing interesting new chances and worth for both clients and also investors."
He added, "Geographically the firm's financial investment approach will enable ADCORP to come to be the long-lasting service partner of selection for clients in the area via offering unique experience in innovative financial items."
