(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Oct 6 (KUNA) -- The Goldman Sachs Group, Inc. (NYSE: GS) announced on Monday the opening of an office in Kuwait, furthering the firm's commitment to the country and the region.
"Kuwait is driving forward a rapid transformation to deliver economic growth and opportunities for its citizens," said David Solomon, Chairman and Chief Executive Officer of Goldman Sachs, in a press statement.
"We look forward to deepening our longstanding partnership with Kuwait as we establish this office to grow our capabilities across the Middle East and better serve our clients," he said.
Goldman Sachs and Kuwait have been strategic partners for 50 years, collaborating on investment banking, capital markets and asset management initiatives.
A core part of the partnership has been a Goldman Sachs-led professional training program to develop local talent within the Kuwait Investment Authority (KIA), the Public Institution for Social Security (PIFSS) and the Kuwait Fund, spanning multiple disciplines.
The firm will continue investing in the recruitment and development of top Kuwaiti talent to serve its regional and global client base.
"Kuwait remains committed to attracting high-impact, long-term global investors who contribute to our national priorities, particularly in talent development and the nurturing of local expertise," said Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Director General of the Kuwait Direct Investment Promotion Authority (KDIPA).
"These efforts directly support our economic diversification strategy and reflect our broader vision for sustainable growth and global integration, in line with Kuwait Vision 2035," he said.
As part of the expansion of activities in Kuwait, Goldman Sachs has hired Mohammad Almatrouk as a Managing Director to lead the office and the firm's continued growth in Kuwait.
The firm also recently hired Fahad Alebrahim as a Managing Director in its Private Wealth Management business. Goldman Sachs continues to scale its presence and reinforce its commitment to the Middle East as a strategic growth area for the firm across Investment Banking, Asset Management and Private Wealth Management.
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments, and individuals.
Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. (end)
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