Ibdar bank appoints executive director

Manama, Oct. 26 (BNA): Ibdar Bank ("Ibdar"), the Bahrain based wholesale Islamic investment bank, today announced that it has appointed Mr. Khalil Al Awadhi as Executive Director, Investors Relations. Mr. Awadhi joins the Bank with over 30 years of experience in asset management and investment placement working in executive roles at a number of top tier regional and international financial institutions in the GCC. At Ibdar, his role will focus on defining and increasing the Bank’s Institutional and UHNW Individuals throughout a consultative placement of Ibdar’s investment product and implanting sales strategy in Gulf. Prior to joining Ibdar, Mr. Awadhi spent three years at PineBridge Investments Middle East as Vice President. Prior to that he was the Principal Relationship Manager and a Partner at Investcorp Bahrain for over five years with coverage responsibility for the firm’s sovereign and institutional relationships and HNWI investment placement in the Kingdom of Saudi Arabia and Kuwait. Commenting, Mr. Ahmed Al-Rayes, Acting CEO of Ibdar Bank said, "We’re pleased to welcome Khalil Al Awadhi as Executive Director of Investors Relations at the Bank. His depth of experience working with leading local and international financial institutions will provide our investors with the highest levels of support, expertise and knowledge of a broad range of financial products. His understanding and deep relationships with investors across the region will also help ensure that as a Bank we continue to innovate the kinds of investments that add value and for which there is demand from institutions and HNWIs across the Gulf." "I’m delighted to join the Ibdar team," added Mr. Al Awadhi. "The Bank has a well developed track record of innovation and a broad offering of unique and rewarding financial products and opportunities. I look forward to working with the team to build upon these and to ensure Ibdar continues to pioneer and bring to market new investments that deliver strong, stable returns for the Bank, its shareholders and investors." Mr. Awadhi has also held a number of other senior management roles with top tier international banks. During 2001 to 2006, he initiated and established Societe Generale Asset Management (SGAM) in Bahrain of which he was the CEO. Between 1996 and 2001, he was Vice President Institutions and Private Banking at BNP Paribas dealing with Kuwait, Bahrain, Jeddah and Yemen. He began his career at Banque Indosuez as Vice President of Placements where he spent 11 years. Mr. Awadhi has also held Advisory Board Seats on a number of Private Equity Funds including those for TCW, Gartmore Indosuez, Blackstone Capital Partners, BNP Paribas, Arcis and Eurosuez. He holds an Executive Business Management Degree from the University of Bahrain. Ibdar Bank is active in private equity in the GCC and MENA markets as well as in the regional and global real estate. The Bank has extensive experience in sectors including aviation, infrastructure, oil & gas, maritime and retail, among others. It has recently announced a number of successful investments and exits in real estate and in financing and leasing. Currently, Ibdar has a strong pipeline of opportunities under evaluation in real estate and other areas that build on growth in consumer patterns across its markets of focus and in industries where its experience and knowledge support solid returns.