World’s largest asset manager BlackRock sets up Kuwait office
The company appointed Ali Al-Qadi as head of its Kuwait office, which will begin operations offering investment advisory services with customer service, financial consulting, and Aladdin platform teams.
• Larry Fink, the CEO and Chairman of BlackRock said, “Our decades-long partnership with the State of Kuwait is one of our most cherished and important international relationships.
The Kuwait Direct Investment Promotion Authority (KDIPA) announced that BlackRock has received regulatory approvals and commercial licenses to operate in Kuwait, a step seen as reflecting the company’s confidence in the country’s economic development, Al Qabas newspaper reported.
Sheikh Dr. Meshaal Al-Jaber Al-Ahmad Al-Sabah, the Director General of the KDIPA, said Kuwait is committed to attracting value-added investments that focus on developing national talent, strengthening long-term partnerships, and ensuring sustainable growth driven by knowledge, according to the Kuwait News Agency.
Larry Fink, the CEO and Chairman of BlackRock said, “Our decades-long partnership with the State of Kuwait is one of our most cherished and important international relationships. We look forward to strengthening this partnership through a physical presence in Kuwait and contributing to the financial system while developing national talent.”
BlackRock noted that the initiative seeks to achieve several strategic goals, including enhancing client trust and supporting the “New Kuwait 2035” vision, in line with its broader plan to contribute to the development of capital markets in the Middle East.
The company confirmed it will begin operations in Kuwait through an office licensed to provide investment advisory services. The office will host a customer service team, a financial consulting unit, and an Aladdin platform team to deliver advanced investment solutions.
As part of this expansion, BlackRock appointed Ali Al-Qadi as head of its Kuwait office, while he continues to serve as head of the client team for Kuwait and Qatar. Al-Qadi, who joined BlackRock in 2023, is regarded as one of the most talented young Kuwaiti professionals within the firm.
The Capital Markets Authority (CMA) of Kuwait officially granted a license to the BlackRock Advisors UK Limited branch to provide investment advisory activities in the country. The CMA described the step as reflecting Kuwait’s rising status on the global financial map, given BlackRock’s standing as one of the world’s largest asset managers.
The CMA added that this move represents a milestone in the development of Kuwait’s financial market and highlights the nation’s ability to attract leading global institutions. It aligns with ongoing national efforts to realize Kuwait’s vision of becoming a prominent financial and commercial hub capable of drawing major international companies.
