Kuwait City, Apr 27: National Bank of Kuwait (NBK) held a press conference at its headquarters to unveil the NBK Wealth brand identity. During the event, Mr. Faisal Al-Hamad, Chief Executive Officer, NBK Wealth, presented the strategic vision behind the launch of the NBK Wealth brand, positioning it as the leading wealth management group in the local market and one of the largest in the region.
During the press conference, Al-Hamad emphasized that NBK Wealth, as a new brand, represents a strategic milestone, deriving its strength from the esteemed legacy of NBK Group, a leader in both the regional and global financial landscape.
Al-Hamad emphasized that NBK Wealth represents a significant advancement in distinguishing itself from competitors by offering distinctive services such as asset management, brokerage, lending, deposits, and a range of customized and innovative solutions tailored for high-net-worth individuals and institutional clients. This initiative contributes to strengthening the Group’s diversification endeavors.
He explained that NBK Wealth encompasses a comprehensive range of services and products, including, Watani Investment Company, Watani Wealth Management Company (Saudi Arabia), NBK Banque Privée (Suisse), along with National Bank of Kuwait (International) PLC and Watani Financial Brokerage Company (WFBC).
Al-Hamad also pointed out that by the end of 2023, NBK Wealth’s Assets Under Management (AUM) exceeded US$ 20 billion.
“Our brand has strengthened its global footprint with an extensive network of comprehensive operations spanning 9 cities across 5 countries worldwide. Additionally, our valuable partnerships with JP Morgan Asset Management and Intervest further leverage multiple dimensions, including advisory services and the development of new investment solutions”, Al-Hamad said.
“We do not offer pre-packaged solutions. We value the significance of comprehending the unique requirements and financial objectives of each client to craft a tailored wealth management plan. Our core principle is to prioritize clients’ needs and build long-lasting, strong relationships with them,” Al Hamad added.
Al-Hamad also expressed NBK Wealth’s commitment to becoming the premier partner for its clients, striving to be the leading and trusted option in wealth management. This is achieved through delivering specialized, comprehensive solutions that generate additional value, foster positive outcomes, and establish a legacy spanning generations for our clients.
He emphasized that NBK Wealth firmly believes in its ability to assist clients in addressing these challenges through implementing robust investment strategies, diversifying their financial portfolios, and offering investment guidance based on thorough analysis of prevailing economic conditions.
When asked about NBK Wealth’s plans for the future, Al-Hamad responded, “We recognize the perpetual flux of market dynamics and the ever-evolving nature of client needs. Hence, we emphasize the necessity of adaptability in response to these changes and the provision of innovative investment strategies that align with our clients’ objectives”.
In his speech during the press conference, Al-Hamad highlighted the extensive expertise of NBK Wealth’s team, stating, “We provide our clients with numerous unique advantages, ensuring them an unmatched experience. This encompasses personalized services customized to meet their specific needs and financial objectives, delivered by a dedicated team of over 125 investment professionals and traders, in addition to 75 relationship managers.”