Vice President-Corporate Finance
TAIB Bank
مجموع سنوات الخبرة :13 years, 4 أشهر
TAIB Bank, BSC, Bahrain. October 2011 to date
Vice President-Corporate Finance
TAIB is one of the first Investment Banks in G.C.C., headquartered in Bahrain with subsidiaries in Turkey and Kazakhstan. In 2007, 58% of the Bank was bought by Dubai Financial Group, the financial holding company of Dubai Group. The two main strengths of TAIB bank are: 1) access to GCC HNIs and family offices, and; 2) locations in key emerging markets like Turkey, India and Kazakhstan.
I was brought on board at TAIB as part of a new management team mandated to revive the Bank. In addition to assist the management in setting up the corporate finance unit, I was also made responsible to lead the Bank's proprietary investment initiatives along with managing the existing private equity portfolio.
• A healthy pipeline of advisory and private equity deals was generated from within G.C.C., Turkey and India in the Power & Energy, Aviation, Telecommunication, Infrastructure, Logistics and Real Estate sector. I was responsible for the Power & Energy, Infrastructure and Real Estate sectors.
• Lead the team, which bid for the acquisition of a 478MW power plant in Trakya, Turkey. Activities involved: due diligence, structuring the acquisition vehicle in liaison with tax and legal consultants and liaison with regulatory authorities in Turkey. At the same time the team also put together a consortium to bid for the acquisition of Kosovo Electricity Distribution Company during the privatization of the Company.
• Worked on setting up a Power Asset Fund to be managed by TAIB Bank. The platform was to initially house the Turkey and Kosovo assets and subsequently bid for International Power's assets in Pakistan.
• Worked with senior management on several fund raising exercises aimed at improving CAR of the Bank.
• The existing PE portfolio has investments in the US, India and Turkey ranging from the telecom to the real estate sector. I oversee active monitoring of investee companies' in order to formulate optimum exit strategies for the Bank.
After a change in management and the strategic direction of the shareholders, I was made responsible by the Board for the sale of strategic assets including Private Equity investments and real estate. Exits on these investments were achieved timely and above the reserved price.
Arif Habib REIT Management Limited October 2008 - September 2011
Chief Investment Officer
Arif Habib Group is Pakistan's fastest growing conglomerate with interest in financial services, fertilizer, steel, cement, agriculture and real estate. Arif Habib Group's real estate portfolio consists of Pakistan's largest shopping mall, Pakistan's largest mixed-use project and Karachi's largest private sector residential development.
Entrusted with the responsibility of setting up a REIT Management Company, corporatize the real estate business within the Arif Habib Group and generate advisory mandates to make the platform self sustaining till formal REIT operations were launched.
• Liaison with the regulator (SECP) on a regular basis for the continuous reform of REIT regulations. Interaction with the regulator also included seeking various approvals required for the formation of the Management Company and floatation of funds proposed by the management company.
• Lobby with tax authorities for incentives and support necessary for the viability of REIT funds.
• Generate mandate from private real estate developers and propose public-private partnerships to government authorities looking to launch real estate projects. Services offered included end-to-end services in carrying out the project, including engaging and appointing technical consultants, managing all activities from commercial launch to development and construction activities till project completion and handover to the buyers was completed.
• Pursue acquisition of distressed real estate projects with potential of revival and structure & implement appropriate turnaround strategies.
• Periodical reporting to the Board of Directors of the Management Company on the current business position as well present future business plan.
Arif Habib REIT Management Limited (AHRML) was successfully set up becoming the first company to obtain the REIT Management license in Pakistan. Subsequently, two applications for REIT Schemes were submitted to the SEC with a combined value of circa US$ 300 million.
Millennium Global Capital (Pvt.) Limited September 2006 - October 2008
Managing Partner
Founding and Managing partner of Millennium Global Capital (Pvt.) Limited (MGC), an advisory set up dedicated to exploit private equity potential in Pakistan. MGC had an exclusive mandate to source private equity investment opportunities for Millennium Global Asset Management (MGAM), a US$ 14 billion alternate investment fund operating out of United Kingdom, which had committed to invest up to US$ 50 million in Pakistan. The platform was used to solicit interest of other funds in Pakistan to co-invest alongside MGAM.
• Set up the advisory firm seeking relevant approvals from regulators with the aim to become the gateway of all private equity investment in Pakistan.
• Appointed an independent Board of Directors and Board's sub-committees' for transparency in assessing investment opportunities and proper corporate governance.
• Source, originate, conduct due-diligence, structure and negotiate on deals on behalf of MGAM as well co-investment opportunities with other funds.
• Represent MGAM on the investee companies' Board of Directors and various Boards' sub-committees.
• Continuous monitoring of investee companies and periodical reporting to MGAM on the performance.
A total of US$ 30 million was invested in Real Estate, IT and Financial Services sector in Pakistan by MGAM and other funds through MGC. By the end of the first 18 months after initial investments, the combined mark to market value of the investments was 300% above cost.
AKD Securities (Pvt.) Limited May 2004 - September 2006
AKD Securities Limited ("AKDS") is the flagship company of AKD Group, one of Pakistan's foremost business groups with interests in Financial Services, Real Estate & Construction, Telecommunication, Infrastructure and Natural Resources. Outside of the large domestic banks, AKD Securities Limited has consistently been ranked among one of the leading underwriters and arrangers of equity in domestic capital markets transactions.
Head of Investment Banking January 2006 - September 2006
• Responsible for originating transactions to meet revenue targets set for the business unit at one of the leading brokerage and investment banking firms in Pakistan.
• Headed two separate teams, Advisory & Equity Markets and Structured Finance & Debt Syndications, comprising of 7 associates and analyst in all.
• Led the team on the successful acquisition of National Refineries Limited by Attock Oil Group of Companies for a consideration of USD 183 million
• Transaction Manager for the Offer for Sale of Shares of United Bank Limited. Worked with the Ministry of Privatization for the divestment of State Bank of Pakistan's shareholding in UBL.
• Worked with Deutsche Bank and Morgan Stanley to bid for the GDR issue of Oil & Gas Development Co. Limited (OGDC), Pakistan's largest Oil & Gas exploration company.
Senior Associate, M&A and Capital Markets May 2004 - December 2005
• Responsible to ensure successful closure of transactions by advising clients on ideal capital structure, using the best possible instrument to raise funds from the domestic debt and equity markets including securitizing deals. In this capacity, led a team which undertook various advisory assignments related to privatization, mergers and acquisitions as well as venture capital.
• Transaction Manager for the Initial Public Offering of NetSol Technologies Limited. NetSol Technologies Limited became the first listed IT Company in Pakistan.
• Team Member for the Offer for Sale of Shares of Attock Petroleum Limited. The issue was oversubscribed by a record 19 times.
Union Bank Limited November 2002 - May 2004
Senior Associate
A part of the first investment banking team at the Bank, entrusted with the task to generate advisory business from Bank's existing client portfolio as well as offer IB services to new relationships.
• Worked closely with the relationship managers to originate investment banking transactions from the existing client portfolio.
• Bid alongside corporate banking team for Sukuk and corporate bonds pursing a lucrative high-yield asset for the bank along with generating fee based income for the division.
• Successfully restructured the balance sheet of the IBL Group, one of the largest distribution companies in Pakistan. Transaction amount was in excess of US$ 50 million.
• Acted as Lead Manager and arranger for the Term Finance Certificate issue of Pakistan Services Limited, leading hotel business group in Pakistan, of US$ 15 million.
• Extended guarantees for WorldCall Group and Telecard Limited of US$ 10 million each for obtaining the Long Distance and International (LDI) License.
Jahangir Siddiqui & Company Limited January 2001 - November 2002
Financial Analyst
As a Corporate Finance analyst key responsibilities included:
• Evaluating (valuations) companies; constructing detailed financial models; structuring Term Finance Certificate and different classes of shares and ordinary shares issues; preparing Information Memorandum for private placement of debt and equity instruments; preparing Prospectuses for various public offers and managing listing processes.
• Publishing research papers in order to assist institutional investors in making investment decisions in the equity as well as fixed income market.
• Sourced and managed teams accredited with executing landmark transactions ranging from Privatizations, IPOs, M&A and Debt restructuring for top tier clients in both the public and private sector; responsible for the listing of the first IT company and the first Real Estate company on the Karachi Stock Exchange; combined value of executed deals in excess of US$ 1 billion. • Developed strong portfolio management skills through personal initiatives to compliment investment banking background. Active trading in the stock market has led to identifying numerous M&A and fund raising opportunities for listed companies. • Completed MBA in the year 2000 from the Institute of Business Administration, a leading business university in Pakistan. Currently enrolled in the University of London's external LLB program.