Hires in the asset management industry are the exception, not the rule, these days. Especially so in the Middle East, which plenty of western firms see as more of a luxury locale than an essential one. The Bank of New York Mellon, though, is beefing up its presence in the DIFC, taking on Maninder Bhandari and Shaheryar Ali in its treasury department. Both had prior experience in Dubai, Bhandari at Emirates NBD and Ali at Mashreqbank.
Full release after the jump.
The Bank of New York Mellon strengthens Middle East regional presence
LONDON and DUBAI, March 24, 2009 - The Bank of New York Mellon, the global leader in asset management and securities servicing, has further strengthened its operations across the Middle East and Africa (MEA) region with two new appointments.
Both roles are based in the Dubai International Finance Center (DIFC):
Maninder Bhandari has taken on the role of Head of Treasury Services for Middle East & Africa with responsibility for overseeing the business's growth strategy for the region. As a member of the MEA management team, he will report to Alan Verschoyle-King, Managing Director and Head of Treasury Services for EMEA. Prior to joining the company, Bhandari worked at HSBC, ABN AMRO and Emirates NBD in various commercial banking across the Asia-Pacific, Latin American and MEA regions.
Shaheryar Ali joins as Relationship and Sales Manager, Treasury Services for the Gulf & Pakistan. Ali has over 23 years of diverse experience in international banking, product development and product management, sales & marketing, business development and treasury operations. Before joining The Bank of New York Mellon, he was Senior Manager, Product & Market Development within Scotiabank's Global Transaction Banking team, based in Toronto. He has also held positions with Toronto Dominion Bank Financial Group, Mashreqbank (Dubai), PICIC Commercial Bank Ltd. (Karachi), Muslim Commercial Bank Ltd. (Karachi) and Bank of Credit and Commerce (Paris)
Through a global network of branches, representative offices and correspondent banks, The Bank of New York Mellon Treasury Services provides comprehensive international payment and cash and liquidity management services. A premier foreign exchange provider, it is a market maker in over 100 currencies, and our derivatives offerings include a full range of currency, equity and interest rate products.
Hani Kablawi, Managing Director and Head of MEA at The Bank of New York Mellon, said: "As the latest additions to our growing team here in the Middle East, these appointments underline the scope of the solutions and the breadth of expertise that we can offer to investors and issuers across the MEA region."
In April 2008, The Bank of New York Mellon received its branch license from the Dubai Financial Services Authority (DFSA) for a regional management and line of business hub in Dubai supporting its established activities in the region, which encompass offices in Abu Dhabi, Beirut, Cairo, Istanbul and Johannesburg.
-ends-
