Global Investment House “Global” announced today that it has signed an agreement with a major US stockbrokerage firm to trade Kuwaiti shares in Kuwait’s Stock Exchange.
Mr. Bader AL-Sumait, Executive Vice-President at Global, said after signing the agreement with Auerbach Grayson & Company, based in New York, US, that “this agreement will position Global in Auerbach Grayson’s worldwide network to be the exclusive execution broker for U.S. based companies seeking exposure to Kuwait’s Stock Exchange (KSE).”
Mr. AL-Sumait also said that he is very delighted to sign such an agreement that will attract potential institutional investors to Kuwait and to the region. “The agreement will also empower the strong communication between global markets to open up new opportunities for foreign investors to enter our local market.”
Auerbach Grayson is a stockbroker committed to serving the international needs of major US institutional investors. Through its worldwide network, Auerbach Grayson offers execution world-wide.
Mr. David Grayson, co-founder of Auerbach Grayson has signed the agreement today with Mr. Al Sumait to become officially its trading partner in Kuwait, joining a network of more than 100 brokerage companies in Europe, Asia & Pacific, South America, Africa, Middle East and North America.
Mr. Grayson said, “Global is a reputable firm with quality people, quality products and quality services. In this regards, we are working with Global in order to attain timely and reliable executions in the local equity market.”
“The core of Auerbach Grayson is our global-network concept. We have established partnerships with major foreign banks and brokers – only one exclusive affiliation in each market. Our partners are leading brokers in their markets and members of their local stock exchange.”
He added, “We are delighted to have Global among the leading brokers we work with globally.”
“Through these partnerships, we provide U.S. institutions with advantages we believe no other firm offers. In this case, Global offers research that is second to none in the region.”
It is worth mentioning that this agreement will reinforce the fact that current valuations in the Kuwaiti market are quite appealing for international investors.
About Global Investment House “Global”
Global Investment House “Global” is a full-fledged investment company incorporated in 1998, and falls under the regulation of the Central Bank of Kuwait. Its underlying foundation is to meet the high expectations of local and international clients, and to enhance the investment service industry in Kuwait and the region. Today, Global stock lists on the Kuwait, Bahrain, and Dubai Stock Exchanges, with branches and affiliates in Bahrain, Dubai and Abu Dhabi (UAE), Jordan, Qatar, and Sudan. Global plays an important role in promoting investment opportunities in the Arabian Gulf Peninsula to investors through expert financial engineering, in-depth research and reports to advance the capital market in the region. Thus, Global’s achievements have been recognized on local, regional, and international levels. The company’s current assets under management reached KD 2.085 billion (USD 7.2 billion) as of December 2006.
