MANAMA: Ahli United Bank’s private banking unit has unveiled a tie-up with Forbes Family Trust (FFT), a New York-based multi-family office.
FFT plans to work closely with AUB Private Banking to evaluate investment opportunities in the alternate asset classes to diversify investments and provide long-term growth, stability, and benefits for the Bahraini bank’s clients.
Commenting on the new partnership, AUB private banking and wealth management deputy group chief executive Mark Hirst said, “We have been carefully scouting for and selecting best-in-class investment houses to collaborate with to serve our clients. Our ultimate target is to furnish our clientele with a wide host of dynamically managed, globally positioned investment portfolios.”
He added, “We are, therefore, very pleased to announce the joint work between us and FFT, a partnership inspired by the common objective of delivering investments that further every client’s unique financial goals.”
A long-established investment advisory firm, FFT has also developed robust Islamic capabilities and is managing a number of large mandates across the Middle East.
“It’s an honour for us to join forces with AUB’s private banking unit. We were pitted against a number of competitive investment advisory firms in the US, and emerged a winner,” said Forbes Family Trust chief executive Keith Bloomfield
“We look forward to commencing this partnership with AUB, GCC’s premier private bank. We have the capabilities to provide them with top-tier private equity, venture capital, and real estate managers, together with various other investment opportunities.”
FFT affiliates have assets under management (AUM) worth $6.5 billion as of end-December 2019.
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