Kuwait Financial Centre “Markaz”

MARKAZ SUCCEEDS WITH OUTSTANDING EMPLOYEE DEVELOPMENT

Abdullatif W Al-Nusif, Managing Director – Wealth Management and Business Development, Kuwait Financial Centre “Markaz”, talks about his organisation’s prowess.

Abdullatif W Al-Nusif

Managing Director – Wealth Management and Business Development, Kuwait Financial Centre “Markaz”

What do you think makes your organisation successful in its chosen field.

Over the past 48 years, Kuwait Financial Centre “Markaz” has firmly established itself as a leader in asset management and investment banking in the Middle East and North Africa region. Our world-class bespoke and comprehensive investment.

What enabled us to succeed is our commitment to the development of our employees, with a capacity-building program to ensure all team members understand and implement our core values and are ready to lead at a moment’s notice. Our domain knowledge is also passed down by senior executives to our junior employees.

What have been the main obstacles you had to overcome?

Obstacles exit for a reason. These make us grow stronger and wiser, while at the same time act as a gatekeeper to keep any imitators at bay. Markaz is recognized as a company of firsts; first funds, first REIT, and the first fixed income department in Kuwait. With this in mind, we had to increase the level of knowledge of our stakeholders before structuring, licensing, and offering our investment products.

What are the main contributions you think you bring to the wealth management industry?

Over the years, we have developed pioneering new concepts that resulted in the creation of new investment channels that enjoy unique characteristics and help us to broaden investors’ horizons. Notable examples include Mumtaz, the first domestic mutual fund; MREF, the first real estate investment fund in Kuwait; and Forsa Financial Fund, the first and only options market maker in the GCC since 2005, all of which have been conceptualised, established, and managed by Markaz.

In addition, we have developed a comprehensive suite of wealth management solutions through four main verticals – Investment Banking, Advisory Services, Listings, and Restructuring.

How do awards such as this make a difference to your firm and your colleagues?

Over nearly five decades since its establishment, Markaz has been recognized with dozens of industry awards. These accolades strengthen our standing in the financial services sector in Kuwait and globally.

This latest award is a tribute to the talents and dedication of our wealth managers, who have made their mark in wealth generation by creating bespoke roadmaps for the investment journeys of our clients.

Where in the world do you operate – are you mainly a domestic player or international? As of September 2022, our assets under management reached $3.67 billion.

What does success look like to you?

Markaz measures success both quantitively, by the growth in value that we create for our clients and stakeholders, and qualitatively, through the knowledge we create and disseminate throughout our society. For example, the Markaz Brand has graduated several heads of sovereign funds, quasi-government institutions, and large corporations across different industries.

Whom do you look to in terms or ideas and inspiration?

Operating within the financial sector, we benefit from exposure to diverse industries. This helps us to cross-pollinate ideas and transfer knowledge. Inspiration comes from everywhere, whether through enriching our understanding of different cultures or recognizing the importance of history and how it shapes the future.

What do you like most about the wealth management industry, and what do you like least and would most like to change?

It is tremendously rewarding to be in a position where we can help people achieve their goals and build enduring legacies for them and their families. This is all the motivation we need to continue to aspire to new heights of excellence.

PRIVATE BANK OR WEALTH MANAGER SERVICING THE STATE OF KUWAIT

WINNER Kuwait Financial Centre "Markaz"