Ithmaar Bank, a Bahrain-based investment bank belonging to the Ithmaar financial group, has appointed Andrew Pocock, a veteran investment banker who has held managerial positions in intern
Ithmaar Bank, a Bahrain-based investment bank belonging to the Ithmaar financial group, has appointed Andrew Pocock, a veteran investment banker who has held managerial positions in international banking and finance since 1971, as managing director for private equity.
Pocock will focus on several of the bank’s private equity fund initiatives, including the recently announced Aldar Private Equity Fund, which has a target size of USD500m, and will report directly to Ithmaar Bank chief executive Michael P. Lee.
‘We consider this a key appointment for Ithmaar Bank,’ Lee says. ‘Andrew has extensive experience in private equity, and in investment and commercial banking in Europe, the Americas, the Far East and the Middle East. Having worked with Andrew before at Emerging Markets Partnership (Bahrain), I am pleased to add his experience and expertise to the private equity team at Ithmaar.’
During his career, Pocock has been an executive director at London merchant bank Samuel Montagu, undertaken advisory assignments for the World Bank in India and China, and headed Gulf International Bank’s European business from London from 1994 to 2000, before becoming the bank’s head of banking in Bahrain.
He joined Emerging Markets Partnership in 2002 as a key business executive in investing and managing the USD730.5m Islamic Development Bank Infrastructure Fund. He led various investments by the fund, including investments in Saudi Arabia’s petrochemical industry and in the telecoms sector.
Since 2006, Pocock has been managing director for infrastructure at Gulf One Investment Bank. He was also based in Bahrain during the late 1970s as chief executive for the Middle East and head of the Bahrain branch of Scandinavian Bank, now part of SEB Group.
‘These are very interesting times for private equity, both in the Middle East and in emerging markets in general,’ Pocock says. ‘I will be working closely with Michael and other colleagues to strengthen our private equity capabilities as the business line continues to grow.
‘I look forward to helping expand Ithmaar Bank’s private equity offerings and bring new opportunities to our client base of supranationals, governments, corporations, pension funds and other institutional investors as well as high net worth individuals.’
