Investcorp Bank B.S.C. is in the process of aligning its operational structure in Bahrain taking into account the evolution of the Central Bank of Bahrain's ("CBB") regulatory framework for wholesale banks and investment firms, as well as the development of Investcorp's business model. As a first step, the company sought the CBB's guidance and agreement to proceed with the proposed realignment and thereafter applied for CBB's approval on the licensing of a Bahrain based Category 1 investment business firm called Investcorp Financial Services B.S.C(c) ("IFS"), a newly incorporated company wholly owned by Investcorp. The CBB's approval was granted on 18 December 2018. To facilitate the proposed realignment, IBBSC intends to engage with its clients, strategic partners and other stakeholders over the course of the next few months and, subject to receipt of shareholders and CBB approvals, transition its regulated marketing and placement activities and MENA private equity investment advisory services to IFS.