Standard Chartered Appoints Head of Private Equity for MENA and Turkey
UAE, 13 July, 2010 -Standard Chartered Bank has announced the appointment of Taimoor Labib who was hired in March as Managing Director, Head of Private Equity for the Middle East, North Africa and Turkey region. The appointment comes as part of the Bank's strategic plan to tap into the promising regional Private Equity market.
Taimoor will be heading a team that will be focusing on investing in mid-to-late stage companies across sectors with proven growth oriented business models, positive net cash flow and earnings generation; backed by highly capable and trustworthy management teams.
Since 2002, Standard Chartered has invested and bought assets worth USD 2.3 billion in existing Bank clients as well as companies that become the Bank's clients. The investments' aim is to provide growth capital to enable development and expansion, buy outs and acquisitions, and balance sheet restructuring. The Bank invests directly in asset classes that include Private Equity, Infrastructure, Real Estate and Distressed Investments.
Taimoor Labib brings to Standard Chartered over 13 years of direct private equity and mergers and acquisitions experience across a wide range of industries and geographies. Previously, he was Managing Director, Head of Private Equity at Jadwa Investment, a leading Riyadh based merchant bank backed by elite Saudi industrialists and prominent members of the Saudi Royal family, where he created and implemented the firm's private equity strategy. He also formerly was at EFG-Hermes (Cairo, Riyadh), The Carlyle Group (Washington DC) and Bear Stearns (New York). He holds a BS from Carnegie Mellon University.
For further information please contact:
Haya Mashhood
Head, Corporate Affairs
Standard Chartered Bank
Qatar
Tel: +974 4248450
Fax: +974 4248111
Mobile: +974 5847178
Email: Haya.Mashhood@sc.com
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Standard Chartered PLC is a leading international bank, listed on the London and Hong Kong stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years.
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