21 January 2003 - John Bauer - New Head of
Asset Management at UGB 
UGB
announced that John Bauer has joined them as Senior Vice President--
Asset Management. Mr. Bauer will be responsible for developing the Bank’s
business in GCC countries other than Kuwait where UGB’s subsidiary
KIPCO Asset Management (KAMCO) already has approximately US$2.0 billion
of funds under management and custody.
During his 30 year
career, Mr. Bauer has held executive positions in major financial
institutions around the world, including Merrill Lynch, American Express
Bank, Commerce Union Bank (now Bank of America), The Gulf Bank, Kuwait,
National Bank of Bahrain (NBB) and Samba Capital Management
International (SCMI) in London (a subsidiary of Saudi American Bank). He
has been instrumental in successfully developing and integrating
sophisticated investment and commercial banking asset management
products. He has been a Director of two mutual funds registered in
Bahrain and has also worked closely with Shariah Boards at Samba and
NBB. Mr. Bauer was Marketing Director and Chief of Staff to the MD &
CIO at SCMI from April 1998 to June 2002, where he managed establishment
of Samba Asset Management S.A. in Luxembourg, an Islamic investment
company. He has an MBA and BBA from the University of Michigan and
taught business courses for the University of Maryland’s European
Division.
UGB is the investment banking arm and subsidiary of
Kuwait Projects Company (Holding) KSC, Kuwait (KPCH). UGB has total
assets of about US$ 900 million supported by shareholders’ funds of
over US$ 200 million. UGB had been assigned an investment grade (BBB-)
rating by Capital Intelligence. UGB’s main subsidiaries are Tunis
International Bank, Tunisia; KIPCO Asset Management Company, Kuwait; UGB
Securities Co; Bahrain and Algeria Gulf Bank SA (under formation);
Algeria. UGB also has equity interests of 44% in Jordan Kuwait Bank,
Jordan; 34% in United Real Estate Company, Kuwait and 49% in United
Industries Company, Kuwait.
UGB’s activities consist of
private equity and fund investments, quoted equities, asset management,
corporate finance, real estate, treasury and selective commercial
banking services.
For further information please contact
United Gulf Bank on telephone +973 17533233 or email
info@ugbbah.com.
