This strategic move reflects Gemcorp’s continued commitment to building a local presence in the emerging markets and focus on the Middle East region’s ambitious growth plans and investment opportunities.
Simon Penney's extensive experience and leadership will be instrumental in driving Gemcorp’s origination and fundraising activities in the region and developing partnerships with Gulf investors and institutions to access projects across the emerging markets. Under his tenure as the UK’s trade commissioner, trade with the region hit all-time highs alongside establishing multi-billion dollar investment partnerships with a number of Gulf countries. Simon has spent most of his career in the banking sector leading financial institutions across Europe, the Middle East, Africa and Asia. These included roles as: Head of Wholesale and International Banking at First Gulf Bank (UAE); CEO, Middle East and Africa at Royal Bank of Scotland; and CEO at ABN AMRO Bank (South Africa).
Gemcorp Capital’s Chief Executive Officer, Atanas Bostandjiev said: "The region’s strategic location, robust infrastructure and business-friendly environment serve as an ideal gateway to access the exciting opportunities that the Middle East and surrounding regions have to offer. Developing a true partnership with local institutions is one of our key business principles. We look forward to applying our emerging markets expertise to investing in the region and aspire to become an important conduit between the Middle East and Africa and the wider emerging markets. With Simon at the helm of our regional business, we aim to become a regional partner of choice for infrastructure, technology and energy transition opportunities."
Simon Penney expressed enthusiasm about the new role and the opportunities it presents: "I am excited to be leading Gemcorp Capital's operations in the Middle East. The region’s crucial geographical and geopolitical position make it an ideal launchpad for Gemcorp Capital’s continued growth.
Gemcorp Capital has consistently demonstrated expertise in navigating the complexities of emerging markets, fostering capital investment and job creation and generating sustainable returns for its investors.