MANAMA: The Central Bank of Bahrain (CBB) has granted a licence to Lazard Asset Management to establish a representative office in Bahrain.
Lazard Asset Management provides investment management and advisory services to institutional clients, financial intermediaries and private clients around the world. Its goal is to produce superior risk-adjusted investment returns and provide customised solutions for its clients.
It has operations in the US, Europe, Asia and Australia. Lazard Asset Management will provide asset management advice to clients located in Bahrain and other GCC countries, both conventional and Shari’a compliant products and services. The representative office in Bahrain will be managed by Edward Remington-Hobbs, Lazard Asset Management’s director of client service and business development for the Middle East. He will report to Bill Smith, Head of Lazard Asset Management’s London office.
The licence was formally ratified at a meeting in Manama hosted by Sheikh Mohammed ibn Essa Al-Khalifa, chief executive of the Economic Development Board of Bahrain (EDB), and attended by Smith, Remington-Hobbs and Rasheed Al-Maraj, governor of CBB, Mohammed Ayman Al-Tajer, director of financial institutions, CBB, and Ahmed Bassam, director of licensing, CBB.The EDB has played an active role in facilitating the establishment of Lazard’s presence in Bahrain.
