Manama: Talal Al Zain, the Chief Executive Officer of Bahrain Mumtalakat Holding Company, the investment arm of Bahrain, has resigned after a four-year term to return to the private sector.
His resignation was accepted by the board of the of the sovereign wealth fund that manages state companies, including Gulf Air and Aluminium Bahrain.
“Today, Talal Al Zain, a founding member of Mumtalakat, leaves us, leaving behind a strong team that is capable of moving forward steadily,” said Shaikh Khalid Bin Abdullah Al Khalifa, the deputy prime minister and Mumtalakat board chairman.
In a brief statement, Al Zain expressed his gratitude to Bahrain’s leaders and to Mumtalakat board members “for the support provided.”
According to his biography, Al Zain worked at Investcorp for 18 years as the Managing Director and Co-Head of Placement and Relationship Management.
Prior to joining Investcorp, Al Zain was a Vice President of Private Banking International with Chase Manhattan Bank, Geneva, Switzerland with the responsibility to manage the Bank’s Private Banking activities for the Gulf Region and, the Coordinator for the Investment Banking for the Middle East and Pakistan out of Geneva.
Prior to Chase Manhattan, Geneva, he was managing Kuwait and Qatar markets for Chase Private Banking, Bahrain. Earlier, he worked with Citibank Corporate Banking Division in Bahrain as a Corporate Banker focusing on trading and manufacturing sector.
Al Zain holds a Bachelor of Business Administration in Accounting from Oglethorpe University, Atlanta, USA, and a Master of Business Administration in Finance from Mercer University, Atlanta.
He has also completed the Program of Management Development at Harvard University besides attending several training programs in both the credit and investment areas.