Manama, Bahrain: Bahrain Middle East Bank (B.S.C) today announced its strategic partnership with Apex Fund Services (W.L.L) to provide administrative support services to the Bank's client co-participations in private equity fund investments and its fund of funds - BMB Technology & Communications Investment Company. Apex is a globally renown fund administrator with over US$ 20 billion in client Assets Under Administration and operating from over 20 countries. The agreement with Apex follows US$ 11.1 million distributions made by BMB to its investors over the last nine months ending 30 June 2011.
Commenting on the strategic partnership, Chief Executive Officer of Bahrain Middle East Bank, Mr. Akbar Habib stated that
"This marks another step in our journey and commitment towards preserving and maintaining client interest at the highest standards of quality, service offer and transparency. We are very pleased to have Apex on board, and together with their expertise in back-end support, it will better enable the Bank to focus on the pivotal aspects of front end business development and value creation".
Mr. Nicolas Angio, Managing Director of Apex Fund Services, Bahrain said,
"In the current environment Apex needs to work increasingly closely alongside its clients and today's agreement reflects the strong business relationship we share with Bahrain Middle East Bank.
We look forward to continuing to provide Bahrain Middle East Bank with high levels of support and service following the signing of this partnership."
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© Press Release 2011
