Ali Jehangir appointed as Chairman JS Bank
KARACHI: Ali Jehangir Siddiqui has been appointed as Chairman of JS Bank in place of his father Jehangir Siddiqui who relinquished his office recently. Ali Siddiqui is the director of Jehangir Siddiqui and Company Limited. He is a member of the Board of Directors of Private Sector Development Task Force of the Planning Commission of the Government of Pakistan and a Member of the Board of Investment for the Provincial Government of Sindh.
Ali is also Managing Partner of JS Private Equity Fund, a US$158 million fund dedicated to investing in Pakistan with CDC, International Finance Corporation, Asian Development Bank, SAMBA Financial Group and Swiss and French investors. From 2002 to 2003 he served as an Executive Director of JS Investments, Pakistan's largest private sector mutual fund manager. From 1998 to 2002, Siddiqui was based in Hong Kong as a Director at Crosby, a private equity firm, where he was part of a team that managed over US$ 400 million in private equity and venture funds investing in AsiaPacific. He is a board member of the Acumen Fund, a social enterprise fund headquartered in New York that invests in Africa and Asia in businesses that serve the poor. Siddiqui is a member of the Board of Directors of a number of large private sector companies in Pakistan. He graduated from Cornell University with a BA in Economics. He has also attended executive education programs at MIT and the University of Cambridge. His father, Jahangir Siddiqui is one of Pakistan's leading entrepreneurs. He established JS Group in 1970 and grew it to be one of Pakistan's largest conglomerates. He retired as CEO of JS Group in 1999 and has since advised and chaired the boards of some key group companies.