The Islamic Bank of Asia (IB Asia) announced two key senior appointments to drive the bank’s focus on investment banking and establish greater connectivity between the Middle East and Asia.
Harish Parameswar is appointed Managing Director and Head of Investment Banking and will be based in IB Asia’s head office in Singapore. Saleh Al Nashwan joined IB Asia as the Chief Representative for its Bahrain Representative Office.
“The addition of Harish and Saleh to our senior management reflects IB Asia’s commitment to deliver a first class Shariah compliant merchant banking platform servicing Asia and the Middle East,” Toby O’Connor, CEO of IB Asia, said.
Harish brings a wealth of investment banking, private equity and relationships within Asia while Saleh has extensive business experience and connectivity in the Middle East. Strong client coverage across the Middle East and Asia with high quality transaction origination and execution are essential for us to fully capture our business opportunity.”
Parameswar will oversee the expansion of IB Asia’s investment banking business which includes private equity, advisory, private placement and capital markets activities, which is in line with the Bank’s strategic priorities.
Before joining IB Asia, Parameswar was most recently the Founder and Managing Director of Beacon Advisory International, a corporate finance advisory and private equity investment firm focused on emerging markets. Prior to this, he was Managing Director at Lazard Asia Limited from 2006 to 2010, serving as Head of South East Asia with additional responsibility for the Technology and Media sectors in Asia. He also worked at Deutsche Bank and Jardine Fleming in various corporate finance roles in Singapore and India.
Parameswar holds a Post-Graduate Diploma in Business Management from IMT Ghaziabad, and a Bachelor of Commerce from Shri Ram College of Commerce, Delhi University.
As chief representative of Bahrain Representative Office, Al Nashwan will lead IB Asia’s regional office and coverage of IB Asia’s shareholder and client base across the Gulf Cooperation Council (GCC) countries. In line with the Bank’s objective of bridging capital flows and business between Middle East and Asia, he will work in close cooperation with IB Asia’s head office in Singapore to strengthen business activity with its Middle East client base.
Prior to joining IB Asia, Al Nashwan was most recently the Chairman of MECAP Consultancy, and founder and CEO of Maalem Holding, an investment holding company, from its inception in 2008 to May 2011. He is currently a non-executive director of Nass Corporation BSC, a Bahraini Public Joint Stock Company.
A Saudi national, Al Nashwan has over a decade of extensive experience in investment, placements and corporate banking with an in-depth knowledge of regional business and financial markets. He has served several senior management positions in leading banks and financial institutions in Saudi Arabia and Bahrain, including Addax Investment Bank, Gulf Finance House and Saudi American Bank (SAMBA). He has played key roles in several major real estate projects and investment deals in the region.
Al Nashwan holds a Bachelor of Science Degree in Industrial Management / Marketing from King Fahd University of Petroleum and Minerals (KFUPM) in Dhahran, Saudi Arabia.