Tamraz – Banks & Wealth Management
Milshare Holding, created and owned by Roger Edward Tamraz owned and controlled banks in the Middle East and in the United States: Bank Al Mashrek (and its subsidiary Park Avenue Bank in New York), Credit Libanais (which has a total assets of $10 billion), Capital Trust Bank and First Phoenician Bank.
Kidder, Peabody & Co. Middle East, headed by Roger Edward Tamraz, led the take over, run and re-built of the largest bank in Lebanon, Intra Bank. Roger Edward Tamraz controlled the surviving entity, Intra Investment Company, the first and one of the major sovereign wealth investment companies in the Middle East, and ran it very successfully for a number of years. The major shareholders of the company are the governments of Kuwait and Qatar. Intra Investment Company owned and controlled banks in Europe and in Africa: a French bank, Banque de Participations et de Placements (created after the purchase of the commercial interests of the Paris-based Banque Stern), its subsidiary Banque de Placements du Zaïre; and, a Swiss bank, the Banca di Particepiazioni e Investimenti.
First Arabian Corporation (“FAC”), created and led by Roger Edward Tamraz owned Bank of the Commonwealth. As such, it was a problem for all of the major United States regulatory agencies, which included the Federal Reserve System (FED), the Federal Deposit Insurance Corporation (FDIC) and the State of Michigan banking regulators. First Arabian Corporation held the position of majority shareholder, worked closely with all three regulators over a number of years to solve the bank’s problems, and it was eventually given a 100% clean bill of health.
At that point, with the regulators’ agreement and encouragement, First Arabian Corporation merged Bank of the Commonwealth into Detroit Bank and Trust to form Comerica Corporation, a large nationwide bank holding company, number 36 in size nationally, with $83.631 billion in assets and a net worth of $7.875 billion. First Arabian Corporation became Comerica’s largest single individual shareholder following this transaction.
Tamraz Banks were also former partners of Société Générale in Frab Bank, Bank of America in Egypt and Crédit Agricole in the Central African Republic (the bank was named B.A.C.D.)
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