Oct 6 (Reuters) - Goldman Sachs ( GS ) has opened a new
office in Kuwait, it said on Monday, in a bid to expand its
services to regional clients and deepen its footprint in the
Middle East.
The bank said it had been Kuwait's strategic partner across
investment banking, capital markets and asset management for
more than 50 years.
A Goldman Sachs ( GS )-led professional training initiative aimed
at developing local talent across KIA, the Public Institution
for Social Security and the Kuwait Fund has been a key element
of the partnership.
"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," CEO David
Solomon said.
As part of the expansion, Goldman Sachs ( GS ) appointed Mohammad
Almatrouk as managing director to lead the new office, subject
to regulatory approval. The bank also recently named Fahad
Alebrahim as managing director in its private wealth management
division.
Oil-rich Kuwait is home to Kuwait Investment Authority
(KIA), one of the world's biggest sovereign wealth funds.