Talal Al Zain to head new Islamic investment bank in Abu Dhabi
The newly formed Islamic investment bank ADCorp has named Talal Al Zain as its chief executive. Its two main shareholders, Abu Dhabi Financial Group (ADFG) and GFH Financial, said the new company has an authorised capital of US$100 million and will be the first Sharia-compliant institution in Abu Dhabi Global Market. Mr Al Zain, formerly chief executive of PineBridge Investments Middle East, said that ADCorp would focus on corporate finance, wealth and asset management for institutions and ultra high net worth clients. He said that geographically the firm’s investment strategy will allow ADCorp to become the long-term business partner of choice for clients in the region.
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