Markaz named “Best Private Bank or Wealth Manager Servicing the State of Kuwait” by WealthBriefing

(MENAFN- TRACCS) Kuwait, 27 November 2022: Kuwait Financial Centre “Markaz” announced that it has been honored with the award for the “Best Private Bank or Wealth Manager Servicing the State of Kuwait” at the Ninth Annual WealthBriefing MENA Awards 2022. Markaz’s Wealth Management team accepted the coveted recognition at the ceremony held at The Address Dubai Mall on 23 November.

The prestigious WealthBriefing award comes close on the heels of Markaz’s recent winning of the “Best Private Bank in Kuwait” category at Global Finance’s World’s Best Private Banks Awards for 2023. It cements Markaz’s standing as the leading wealth management institution in Kuwait and celebrates its strong track record in successfully serving individual, corporate, family office, quasi-government and government clients with its bespoke and comprehensive solutions. In the award citation, the respected judges of the WealthBriefing MENA Awards recognized Markaz’s efforts to provide a single point of access to the regional and global asset management industry for its clients.

Commenting on the achievement, Mr. Abdullatif W. Al-Nusif, Managing Director of Wealth Management and Business Development at Markaz, said: “We are thrilled that Markaz has joined the ranks of an elite global group of organizations that have won WealthBriefing awards and further strengthened its standing in Kuwait’s financial services sector. This award is a tribute to our highly committed professionals who have made a mark in wealth generation by creating effective investment roadmaps for the investment journey of our clients. On this occasion, I extend my deepest gratitude to them for helping Markaz cater to clients’ investment needs during the past year and be recognized by reputed awards.”

Markaz’s Wealth Management and Business Development team enjoys highly experienced wealth managers, who hold certifications and accreditations in several internationally acclaimed training programs, are adept at creating optimal asset allocation models and selecting investments that suit the risk profile, as well as the return and liquidity objectives of its clients.
Combining their in-depth market knowledge with personal relationships built on trust and confidence, Markaz’s investment professionals, who keep abreast of shifts and trends in local and international markets, also offer its clients customized investment opportunities. Markaz places a strong focus on fostering excellence and innovation in its mission to build and maintain legacies, and manage governance structures and succession planning charters for family-owned businesses. Amidst the COVID-19 pandemic and global lockdowns, Markaz’s investment in technology and stringent internal controls ensured that communication with clients and investment performance management continued in an effective and efficient manner.

Markaz’s operational approach entails specific phases. After gaining a thorough understanding of their clients’ financial needs, aspirations, and goals, the company’s highly experienced professionals help them set their financial objectives and design strategies to achieve those goals, manage their investments and finances, and execute successful estate planning. They ensure that all investment, regulatory and reporting complexities are simplified and that clients’ requests are executed diligently and in a timely fashion

In the 48 years since its establishment, Markaz has carved out a stellar reputation as a reliable partner of choice in wealth creation by consistently delivering on its promise to cater to the financial aspirations of its clients and sustained business growth despite varying market conditions. It is thanks to Markaz’s research-driven culture and dedicated wealth managers who strive to protect and grow its clients’ wealth. These key factors played a pivotal role in granting Markaz dozens of prestigious industry awards throughout its history. Earlier this year, Markaz was designated as the ‘Best Investment Bank in Kuwait’ for 2022 by Global Finance, which marks the 11th time Markaz was awarded the coveted title in the past 12 years. Additionally, Markaz has ranked prominently in Euromoney Market Leaders’ Investment Banking, Digital Solutions and Corporate Social Responsibility,

The WealthBriefing MENA Awards are part of a global program run by WealthBriefing and its sister publications WealthBriefingAsia and Family Wealth Report. Each of the categories is highly contested and is subject to a rigorous process before the ultimate winner is selected by a panel of independent judges. These awards recognize the best operators in MENA wealth management, with independence, integrity and genuine insight, reflecting excellence and innovation during the last year.

About Kuwait Financial Centre “Markaz”
Established in 1974, Kuwait Financial Centre K.P.S.C “Markaz” is one of the leading asset management and investment banking institutions in the MENA region with total assets under management of over KD 1.142 billion as of 30 September 2022 (USD 3.67 billion). Over the years, Markaz has pioneered innovation by developing new concepts resulting in the creation of new investment channels. These channels enjoy unique characteristics and helped Markaz widen investors’ horizons. Examples include Mumtaz (the first domestic mutual fund), MREF (the first real estate investment fund in Kuwait), and Forsa Financial Fund (the first and only options market maker in the GCC since 2005), all conceptualized, established and managed by Markaz. Markaz was listed on the Boursa Kuwait in 1997.

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