Markaz wins three coveted categories from EMEA Finance Middle East Banking Awards 2020
Kuwait Financial Centre “Markaz” was recently recognized among the leading investment and asset management institutions across the region with three awards from the EMEA Finance magazine’s ‘Middle East Banking Awards 2020’. Reinforcing its market leadership, Markaz was named the ‘Best Asset Manager in Kuwait’ and the ‘Best Local Investment Bank’ for the eighth consecutive year. The company also won the ‘Corporate Social Responsibility Award – Middle East’ from the prestigious regional awards.
The reputable awards reflect Markaz’s continuing success and solid performance in the asset management and investment banking business despite the prevailing challenges in the global economy triggered by the coronavirus pandemic. Markaz has maintained its strong track record in delivering returns to its clients and consolidated its position in the local and regional market. The awards considered various performance and structural factors such as market share, innovative products, growth in important product classes, and corporate strategy. The organizer commended the winners’ many impressive initiatives that focused on supporting clients, communities, and the public sector.
Mr. Abdullatif W. Al-Nusif, Managing Director, Wealth Management and Business Development at Markaz commented: “The year 2020 has been a positive year for Markaz where our investment products yielded solid performance, despite the global health crisis and the resulting uncertainties. The pandemic-induced situation provided us with an opportunity to prove that we are resilient and well-positioned to weather severe challenges, and the awards from EMEA Finance further reinforced this reputation. We are delighted to have received the ‘Best Asset Manager in Kuwait’ award for the eighth year in a row in a compelling testimony to the robustness and success of our growing portfolio of high-performing solutions for sustainable wealth creation. I would like to thank our colleagues for delivering excellent performance with their hard work and their commitment to follow prudent risk management policies in the rapidly changing investment environment.”
He added: “Even though the Covid-19 pandemic has had an impact on investors’ appetite and market confidence globally, our comprehensive range of investment banking services has experienced strong demand. Our mandated transactions, which are underpinned by excellent execution capabilities, extensive research, and industry expertise, generated long-term value for our clients. The winning of the ‘Best Local Investment Bank’ award for the eighth consecutive year represents an acclaimed recognition of our unique offerings and uncompromising commitment to service excellence.”
Commenting on the winning of the Corporate Social Responsibility Award – Middle East, Al-Nusif said: “As an organization that thrives on core values, Markaz places corporate social responsibility at the heart of our operations. Amidst the unprecedented circumstances in both local and international markets, we have remained steadfast in our commitment to working towards the betterment of the communities where we operate. We are proud that our many initiatives have created a meaningful impact on the beneficiaries that include our people, society, and the state of Kuwait. We are greatly encouraged by the award to further our endeavors focused on driving sustainable prosperity around the world.”
In another major development, Markaz was named the ‘Best Investment Bank in Kuwait’ for the ninth time at Global Finance’s ‘World’s Best Investment Banks 2020’ awards. The magazine said the top performers “stand out for their ability to maintain and even strengthen their market positions in volatile environments.” The criteria used to select the winners included market share, number and size of deals, service and advice, structuring capabilities, distribution network, efforts to address market conditions, innovation, pricing, after-market performance of underwritings, and market reputation.