To set up energy company to offer industry-related advisory services
Mahmood Rafique
Business Correspondent

Bahrain-based Global Banking Corporation (GBCorp), with an authorised capital of $500 million, announced a strategic partnership with a Washington-based investment banking firm Taylor-DeJongh (TDJ), paving the way for the establishment of a subsidiary operation focusing exclusively on the fast-growing energy sector.
The new subsidiary will be an energy advisory company offering a full range of industry-related advisory services to GBCorp’s projects, identifying and capitalising on investment opportunities in the oil and gas and power sectors.
Ahmed Al Khan, Head of Investment Banking at GBCorp, highlighting the growth in global demand for energy and the opportunity for a specialised entity run by industry experts, said that the new entity would help to execute GBCorp’s projects across the hydrocarbon value chain from upstream oil exploration and production to natural gas, refining, petrochemicals, marketing of refined products and power generation.
“This strategic partnership with industry leader Taylor-DeJongh is the first step in building a comprehensive portfolio of Shariah-compliant services. This partnership brings together many decades of industry expertise to identify, analyse, assess, execute and package GBCorp’s projects in the energy sector, broadening our product offering in a well balanced manner,” said Al Khan.
Taylor-DeJongh (TDJ) is an independent investment banking firm focused on providing creative, objective capital solutions to its energy, oil and gas, metals and mining and infrastructure clients globally.
Terry Newendorp, chairman and CEO of Taylor-DeJongh, said: “Our strategic partnership with GBCorp is a timely and exciting development, and builds on the existing relationship between our two institutions. Taylor-DeJongh’s 25-year track record in successfully structuring and closing transactions all over the world will be invaluable in creating and capturing value at a point when the energy sector offers many opportunities for experienced and knowledgeable industry experts.”
Al Khan added, “The energy industry continues to grow strongly and it has been forecast that the world’s total energy demand will grow 40 per cent by 2030. The vast majority of this increase will take place in developing countries, where economies and populations are expanding rapidly and modern energy supplies are still a scarce commodity for millions of people. This has fuelled a growth in energy infrastructure companies, creating a strong market for well structured private equity deals.”
GBCorp, started operations in Bahrain in June 2007 on challenging vision to be the leading investment bank in the GCC with global reach, characterised by the ability to merge international investment excellence with local expertise and with an underlying commitment to provide Shariah compliant investment banking services for high net worth individuals & families, corporate and government clients.
GBCorp’s strategy is aimed at capturing a significant share of the $500 billion global Islamic banking market, leverage its regional expertise and experience to establish a strong presence globally.
Last update on: 11-5-2008