bmb group
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following the acquisition, bmb group has more than $ 12 billion under management .
ask a question about working or interviewing at bmb group. our community is ready to answer .
based on our strong belief that the future and success of the group lies in the development of our people, bmb group places great value on its pool of highly skilled and dedicated professionals .
driven by passion, three determined young men took their business to another level. bmb group: the story. .
islamic finance experts working for deutsche bank subsidiary dar al istithmar have left the company to work for the cayman islands - registered bmb group .
another division of withanages group, bmb islamic, was therefore created to structure islamic products and advise institutions on the use of these products, or on becoming shariah compliant. mirzan mahathir, the eldest son of the former prime minister of malaysia, mahathir mohamad, supervises bmb islamic and is the president of the division. he was one of the first people to join the group .
late last year, bmb set up a special vehicle, bmb bank acquisitions, to take advantage of lower valuations of financial services firms. this is part of a division of the group called bmb wealth management, which has more than $ 5 billion in client - specified mandates. david gibson - moore, former head of the middle east operation of dutch fund manager robeco, heads bmb wealth management .
bmb group, an investment office that manages money for the sultan of brunei’s family, is expected to table an offer for paris - listed club med that would value the company at €800m (£675m) .
bmb group claims a staff of 45. it has offices in london and new york, a parent company in brunei, and is registered in the cayman islands. bmb claims that it will open ‘flagship’ offices in riyadh in 2007, as well as in malaysia and the uae this year .
based on our guiding philosophy of being
share the joy
, bmb group offers a culture of performance, effectiveness and fairness. we look to recruit highly qualified professionals with a passion, an entrepreneurial spirit and unmatched drive .
alternative asset manager bmb group has bought emerging markets private equity firm emp global. the combined entity will become one of the worldæs leading alternative asset management houses, with assets in excess of $ 12 billion. the terms of the deal were not released. with emp now in its fold, bmb group is expected to position a significant portion of its global business in china, while serving as a conduit for middle eastern investment into the region. the groupæs efforts in ...
energy and infrastructure were two of emps strengths. prices of energy - related companies have fallen because of the crash in commodities and there is a mini - infrastructure boom in some emerging markets. bmb group plans to launch a series of private equity funds targeting energy and infrastructure in asia, the middle east and north africa. this will be mainly done through bmb private equity, a new subsidiary in bmbs principal investments division .
while deutsche and bmb dispute the exact number of staff involved, it is thought that between five and seven london - based staff will move to create a new arm called bmb islamic .
“it’s been very amicable. i don’t want to use the word ‘poaching’, ” a spokesperson for bmb told arabianbusiness. com. “the team decided it would be better to go to bmb. ”
bmb group is one of the worlds most exclusive financial institutions. its growing numbers of investors are often drawn from eastern ruling families with vast riches gleaned from the long - term growth in demand for commodities. it makes some institutions based in londons mayfair look dreary and mundane by comparison .
the very positive traits of the group were also its downfall: youth often equated to immature decisions, entrepreneurial to corner - cutting, and dynamism to quixotic, dictatorial and bullying management traits .
the group calls to mind an era when the courts of asian empires were the global centres of money, technology, culture, and power. but this is not an artefact in a museum .
withanage, who is based in brunei, likes to think of bmb as akin to a swiss - style unlimited partnership private bank. in other words, bmbs senior managers and stakeholders often put their own capital at risk when deploying clients assets .
the two men who co - founded emp global in the early 1990s after working together at the world bank have thrown in their lot with bmb group. moeen qureshi, who was interim prime minister of pakistan for three months in 1993, is now vice - chairman. don roth, former head of merrill lynch europe, has become head of principal investments .
given its stakeholders and client base, bmb is always careful to offer options for both islamic and non - shariah - compliant investors. islam originated in the middle east, after all, and although bruneis royals are also muslim, some bmb clients are not .
sources close to the situation described the deal as friendly, with three of the four main shareholders supporting it. they include glg, the london - based hedge fund, rolaco, a saudi arabian investment firm, and fosun group, china’s largest non - state company .
bmb islamic will also be based in london, dealing with the ‘structuring and introduction of products that [... ] adhere to the highest sharia standards. ’
however, bmb islamic as it exists today came into being after the recruitment in 2007 of a team of islamic finance technicians responsible for many of deutsche banks islamic products. they left dar al istithmar, a subsidiary of deutsche bank. dar al istithmars former managing director, humayon dar, is now chief executive of bmb islamic .
it is estimated that the team poached by bmb – and led by islamic economist dr. humayon dar – has advised on products worth over $ 20 billion by total volume .
bmb has two main businesses: trading and confectionery. with our head quarters based in dubai, united arab emirates, we have widened our distribution network to be able to have
it is like a family office dealing with other family offices ,
says one bmb worker of his company. but these family offices are only the richest of family offices .
the antithesis to bmbs approach, according to withanage, would be a method of focusing on short - term revenues, and multiplying transactions through thousands of employees and millions of customers .
bmb is a very good company to learn but you have to be a very fast learner to stay longer. working environment is strict so be ready for any news any time .
bmb has acquired emps offices in bahrain, buenos aires, hong kong, johannesburg, singapore, and washington dc. new offices in beijing, saudi arabia and uae are planned for this year .
nevertheless, withanage is still attached to the idea of having a small group of partners that clients know and trust. he says big firms with a constant ebb and flow of bankers can become impersonal and take undue risks with clients capital, partly because of the limited recourse to the bankers own pockets .
were in this for life ,
he says .
even so, bmb group is likely to steer away from buying local islamic retail or commercial banks in the middle east and asia. this is because it wants to be a support rather than a rival to these institutions .
one reason why we exist in the islamic space is to empower local islamic banks in the middle east and asia ,
says withanage .
we saw, certainly until last year, that the largest islamic banks in the world were the western bulge - bracket banks. investors go where they have the greatest offering of products .
bmb also harbours a desire to snap up more financial institutions around the world, with its stakeholders own money, and with the money of its clients .
this year is poised to be our biggest year of growth ,
says withanage .
prince abdul ali and i played on a polo team together ,
says withanage when describing how the idea behind bmb was first born. it made for a small new company that, like its senior management, was very young and extremely well connected .
thanks to the emp acquisition, bmbs staff numbers have grown from about 30 to about 100. an advisory body consisting of high - profile ex - government officials from around the world is soon to be announced. this will be meeting in brunei in october .
having an eye for detail, stamina and a thorough approach to work duties. excellent organisation and troubleshooting skills. experience of dealing with short shelf life food products. proven ability to lead, motivate and build successful teams. understand all legal, regulatory, information security and compliance requirements. team leading & people development skills. able to manage and develop a diverse group of highly skilled people. a pragmatic approach to getting the required results. ability to manage operations within budgetary constraints .
we see a lot of interest among middle eastern investors in east asian assets. similarly, we see a lot of interest among east asian investors in middle eastern assets ,
says rayo withanage, the co - founder, co - chairman, and chief executive of bmb .
at bmb its not just how much money you make at the end of the year ,
he says .
we ask about the longer - term risk for the firm and the clients when awarding employees compensation. we dont promote investment opportunities we wouldnt be interested in ourselves .
however, a development for bmb that might contribute more to the wealth if not to the glory of its regal patrons came in december last year, with the acquisition of emp global. this emerging markets private equity firm, based in washington dc, had made investments of more than $ 7 billion .
“through its unique investment platform, bmb is currently engaged in a $ 5 billion deployment across the alternative asset spectrum, ” the company said in a statement. “ [ it ] is exploiting diverse investment opportunities through its core businesses of asset management, hydrocarbons and real estate, developing strategic relationships throughout the islamic world. ”
bmb islamic has not restricted itself to helping non - western institutions. one of the schemes it has been working on recently is a new fund from uk asset manager f & c; for investments that are shariah - compliant, and  to appeal to non - muslims  that are deemed and marketed as generally socially responsible .
bmb, short for ‘baklawa made better’; is an innovative confectionery business that was founded on the principles of providing solutions for chocolate & bakery professionals. our values and ethics mean we only work with quality ingredients that support good ‘livelihoods’ and to stay at the forefront of providing an exceptional service in a world where relationships mean everything .
indeed, the royal nature of the companys connections, clients and stakeholders is reflected in bmb collections, a division being created to advise royal families on the acquisition and management of crown jewellery, art and other valuable collectable items. the division will help royals extract value from such assets by renting them to galleries, or through other means .
withanage, a former lawyer with roots in brunei and new zealand, set up bmb in 2004, when he was in his mid - 20s. he had the help of prince abdul ali, a son of the sultan of bruneis sister. prince abdul ali, who is still co - chairman, is just two years older than withanage .
bmb islamics credentials include helping dubais shuaa capital create a shariah - compliant equity fund. it has also helped national bank of dubai create a sukuk fund, and abu dhabi bank adcb and australias macquarie bank create a shariah - compliant swap structure for an infrastructure fund. it also submitted a report to commercial bank of dubai on how that institution could enter the islamic market .
bmbs wide and widening connections at the top of eastern societies are shown in its role as investment manager for a charitable fund created this spring by the 56 states of the organization of islamic conference .
the fund will act as a rallying call for wealthy islamic countries to help needy communities around the world ,
says mat hassan esa, chief executive of the newly formed international zakat organization .
it is at a nexus of the contemporary redirection of wealth to the industrializing nations of the east, from the west, via petrodollars. bmb is a bridge for elite investment between the middle east and east asia. indeed, it was co - founded and is co - chaired by prince ali yil kabier, a member of bruneis royal family, which traces its roots to both arabia and china .
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“dar al istithmar continues to service clients. we are in the process of staffing up again, ” a deutsche bank spokesperson said .
“it’s not part of deutsche bank – our islamic team is completely in place. our middle east structuring team – who deal with islamic and non - islamic products – in dubai is very strong. ”
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club med, the company that pioneered all - inclusive holiday resorts, could be taken private by a brunei - based firm this week .
negotiations with fipar, club med’s largest shareholder, are continuing and are expected to be finalised this week. fipar is an investment…
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the alternative asset management firm buys emp global and is expected to position itself in china and the middle east .
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this is the oics first attempt to create a common initiative for the global distribution of zakat, the charitable donations of muslims. contribution to zakat by those able to do so is one of the five pillars of islam. the fund will have $ 750 million by the end of its first year, rising to more than $ 3 billion once other commitments are realized. it will build schools, hospitals, and social housing, develop agriculture, give emergency aid, and provide venture capital to small and medium - sized enterprises .
any acquisition would not be small ,
says withanage. in particular he mentions private banks in europe as targets in the financial services sector .
the fact that most alternative assets are managed in the west is to be short lived ,
withanage says .
the two brought in funds from various asian royals, and realized the potential for inviting friendly middle eastern royals into the project too. an idea emerged for a platform for islamic - focused investment, especially between asia and the middle east .
whatever we do we provide a strong shariah - compliant structure, window, or parallel structure ,
says withanage .
the team has helped structure shariah - compliant funds for germanys allianz, state bank of india, and deutsche bank. it also helped msci barra fashion islamic indices and helped société générale with a range of islamic structured products .
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“if more of us valued food and cheer and song above hoarded gold, it would be a merrier world. ”
every chef knows that to paint his / her canvas, or in other terms, create their intended desserts, they need to be equipped with the right ingredients .
we source our ingredients from the best companies around the world that specialize in them, to bring you a range that can complete all your requirements .
our focus is on ingredients for the chocolate & bakery industry, and the variety we have is unparalleled .
cpp, which stands for confectionery products packaging, is our own printing press that specializes in bespoke packaging for confectionery .
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we private label and carry our own brands. we are also flexible to be able to match recipes to worldwide taste buds. the only
every year a student relative of one our factory staff is chosen between all the nominations for a scholarship at a top university in their home country .
the scholarship will follow through all the way until they graduate (3 - 4 years) .
when the full amount is raised, the student is selected and the delivering happiness team ensure the payment is sent towards their university enrolment. all investors in the fund will get an update quarterly on the performance of the student by email .
doha industrial area, street no. 1, gate 4, doha, qatar
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wherever you are you are never too far! if you would like to get in touch with us, please do not hesitate to call us or send us an email with you queries. our team will always be glad to assist you. if you would like to visit our showroom in person to have a first hand glance at our products please call in! our working hours are from 8am to 6pm in each respective country .
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good environment in the company with co - workers. everyday is a lesson to learn from it. i like the job and what it gives. the hardest, the non recognition of the achievements .
experienced changing shift from day to night shift, and i' ve learned a lot on the other field of works and sharing of ideas, superiors are strict but manageable the workgroup are very cooperative and help each other, the hardest thing is on changing of shift it takes a week to get back from normal, and the good thing i' ve learned a lot from this job .
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bmb group ( formerly brunei merchant bank ) is an advisory and asset management platform for ruling families and forbes 500 investors . in 2015 the firm refocused its business to provide capital and specialist advice exclusively for forbes 500 families . the company works only with ultra high-net-worth investors in private off-market initiatives . providing specialist advice in the form of business development and strategic advisory services , with a focus on emerging markets of asia , latin america , cis and the middle east . in an investigative report , euromoney described bmb as " one of the world ’s most exclusive financial institutions . the group calls to mind an era when courts of asian empires were the global centers of money , technology , culture and power . its growing number of investors are drawn from eastern ruling families with vast riches gleaned from the long term growth demand for commodities . " the firm was founded in 2006 by prominent financier rayo withanage , originally an attorney and strategist who developed a successful career as a direct investor . mr. withanage , who was named in the financial times 100 rising stars of finance , recently handed the reins of bmb to new ceo mr. rahula withanage . bmb and its affiliates have invested upwards of us$ 12 billion around the world in the areas of private equity , real estate , natural resources , wealth management , hospitality and philanthropy . bmb is headquartered in bermuda . 
bmb group (formerly brunei merchant bank) is an advisory and asset management platform for ruling families and forbes 500 investors. in 2015 the firm refocused its business to provide capital and specialist advice exclusively for forbes 500 families. the company works only with ultra high-net-worth investors in private off-market initiatives. providing specialist advice in the form of business development and strategic advisory services, with a focus on emerging markets of asia, latin america, cis and the middle east. in an investigative report, euromoney described bmb as " one of the world ’s most exclusive financial institutions. the group calls to mind an era when courts of asian empires were the global centers of money, technology, culture and power. its growing number of investors are drawn from eastern ruling families with vast riches gleaned from the long term growth demand for commodities. " the firm was founded in 2006 by prominent financier rayo withanage, originally an attorney and strategist who developed a successful career as a direct investor. mr. withanage, who was named in the financial times 100 rising stars of finance, recently handed the reins of bmb to new ceo mr. rahula withanage. bmb and its affiliates have invested upwards of us$ 12 billion around the world in the areas of private equity, real estate, natural resources, wealth management, hospitality and philanthropy. bmb is headquartered in bermuda.
bmb group (formerly brunei merchant bank) is an advisory and asset management platform for ruling families and forbes 500 investors. in 2015 the firm refocused its business to provide capital and specialist advice exclusively for forbes 500 families. the company works only with ultra high-net-worth investors in private off-market initiatives. providing specialist advice in the form of business development and strategic advisory services, with a focus on emerging markets of asia, latin america, cis and the middle east. in an investigative report, euromoney described bmb as " one of the world ’s most exclusive financial institutions. the group calls to mind an era when courts of asian empires were the global centers of money, technology, culture and power. its growing number of investors are drawn from eastern ruling families with vast riches gleaned from the long term growth demand for commodities. " the firm was founded in 2006 by prominent financier rayo withanage, originally an attorney and strategist who developed a successful career as a direct investor. mr. withanage, who was named in the financial times 100 rising stars of finance, recently handed the reins of bmb to new ceo mr. rahula withanage. bmb and its affiliates have invested upwards of us$ 12 billion around the world in the areas of private equity, real estate, natural resources, wealth management, hospitality and philanthropy. bmb is headquartered in bermuda.