UIB Capital appoints top City of Chicago Official
Bahrain, 7 December 2005 - Unicorn Investment Bank has announced the appointment of Tariq Malhance, a top City of Chicago official, as Senior Vice President of Private Equity and President by its wholly owned subsidiary, UIB Capital, Inc., in Chicago.
Mr. Malhance will be responsible for originating and facilitating senior loans for private equity deals in North America and will be based in UIB Capital’s offices in Chicago.
Aamir Khan, Managing Director of Global Private Equity at Unicorn Investment Bank, said: “Tariq not only brings with him a wealth of experience in capital market instruments but also an intricate knowledge of private equity. His knowledge, experience and network will strengthen an already excellent private equity team”.
Mr. Malhance retired from the City of Chicago on November 30th, after an illustrious 25-year career, during which time he served in various positions in City Government, including City Comptroller, three years as First Deputy City Treasurer, Managing Deputy Comptroller for Debt and Asset Management, and Deputy Comptroller for Financial Policy. As City Comptroller he was tasked with managing the City’s cash flow, debt, and credit activities. He also had responsibility for the City’s accounting, auditing, and financial and compliance reporting. Mr. Malhance was responsible for overseeing the issuance of approximately $40 billion in bonds to support various City projects, such as the airport revenue bonds, water and sewer bonds and other specialised financing arrangements. Recently, he led the securitising of the Chicago Skyway, which is a seven-mile toll-way, for about $1.8 billion to Macquarie Bank of Australia and Cintra of Spain. This transaction was the first of its kind in the US. Mr. Malhance was an active trustee member of four of the City’s pension funds, which together control about $13 billion and invest in a variety of investment funds, including private equity funds.
Mr. Malhance said: “I am excited to be joining UIB Capital, Inc. because of its ability to innovate whilst fusing Shari’ah with international banking best practice”.
Mr. Malhance is a graduate of the University of Karachi, Pakistan, where he earned a Bachelor of Commerce degree. Subsequently, he earned a B.S. B.A. in Finance from Roosevelt University in Chicago, and two graduate degrees (an M.B.A. in Finance from Roosevelt University and an M.A. in Economics from the University of Illinois, Chicago). He has also completed his post-graduate course work studies as a Ph.D. candidate in Public Policy Analysis at the University of Illinois, Chicago.