Ithmaar Bank, a leading publicly quoted investment bank based in Bahrain, has announced the appointment of Mr. Maysan Faisal Al-Maskati as Executive Director- Private Equity Group.
With the support of the Bank’s Private Banking Group, Mr. Al-Maskati will be responsible for sourcing, evaluating, structuring and executing value-oriented private equity investment opportunities across a broad spectrum of businesses and geographic areas.
Mr. Al-Maskati began his investment banking career in 1998 and worked for leading international private equity specialist Emerging Markets Partnership (EMP), whose Bahrain subsidiary is the General Partner and Manager of the US$930.5 million Islamic Development Bank (IDB) Infrastructure Fund. This pioneering regional private equity fund, headquartered in the Kingdom of Bahrain and investing in private sector infrastructure, was co-founded by IDB, Dar Al-Maal Al-Islami (DMI) Trust and EMP. During his 4-year tenure with EMP, Mr. Al-Maskati was actively involved, alongside senior management, in both closing the fund and in making large investments in the power and petrochemical sectors, as well as contributing to effecting investments in other sectors.
Most recently, prior to joining Ithmaar Bank, Mr. Al-Maskati worked at Gulf One Investment Bank, where he was Vice President, Infrastructure, and Masar Advisory, where he was Private Equity Director.
Mr. Al Maskati holds a B.Sc. in Industrial and Manufacturing Systems Engineering from Kansas State University, USA.
Mr. Al-Maskati’s appointment reflects the importance Ithmaar Bank places on private equity business, one of its core activities.
“As an asset class, private equity has long been important for leading regional investors, whether institutional or high net worth individuals, and recently, it has become even more popular” said Mr. Michael Lee, Chief Executive Officer of Ithmaar Bank.
“I am delighted to welcome Maysan to the Ithmaar Bank team. His broad experience in analyzing and structuring potential private equity transactions is complemented by his skills in monitoring investments and exit opportunities. He also has excellent experience in presenting private investment opportunities to regional investors and in keeping them informed on the progress of such investments.”
Mr. Al-Maskati said he was excited to be joining a dynamic and fast-growing, Bahrain-headquartered, international financial institution such as Ithmaar Bank.
“This is a particularly exciting time for the private equity market in the Middle East & North Africa (MENA) region, especially in the GCC, as well as in South Asia, Asia-Pacific and Europe” he said.
About Ithmaar Bank
Ithmaar Bank B.S.C. is a 22-year-old bank licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange.
Ithmaar Bank, which has a paid-up capital of US$360 million, is a full service investment bank, with operations covering the MENA region, as well as South Asia, Asia-Pacific and Europe. Besides holding significant investments in the banking, financial services and real estate sectors in different markets, the main activities of the Bank include underwriting business (equity and other financings), private equity (structuring, participation and portfolio management), project financing, and advisory business (capital market, merger & acquisitions and project advisory).
Ithmaar Bank’s flagship companies include Shamil Bank, Solidarity (an Islamic insurance company headquartered in the Kingdom of Bahrain), Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan) and Ithmaar Development Company.
The Bank’s shares are listed on the Bahrain Stock Exchange.
For more information on Ithmaar Bank, please visit the Bank’s website on www.ithmaarbank.com
