The Notz Stucki Group is one of the largest, independent, asset management companies in Europe, with $7.5 billion of assets under management.
The decision by Notz Stucki to base its Middle Eastern operations in Bahrain follows similar moves in recent months by a number of leading international financial services firms, including Altaira Middle East, AMP Capital Investors and Canara Bank. Notz Stucki’s decision to locate in Bahrain demonstrates Bahrain’s continuing strength as a hub for firms looking to access the Gulf economy.
“Notz Stucki has been a pioneer in the industry for almost 50 years. We have prided ourselves on our unmatched rigor and professionalism and have always combined a mix of an entrepreneurial approach with strong continuity,” Grégoire Notz, Managing Partner, son of founding Partner Beat Notz, said.
“We have found the same values in Bahrain. This high level of professionalism is a key feature of Bahrain, not only of the regulatory entities but also with the other private institutions we’ve met.
“Alongside these shared values, the sophistication and the hospitality we encountered in Bahrain was a key factor in our decision to open a Representative Office in the Kingdom. We would like to take this opportunity to thank the Central Bank of Bahrain (CBB) and the Economic Development Board (EDB) for their continued support.”
“We are very pleased to be able to greet Notz Stucki as it opens its regional office in Bahrain and are delighted to extend a warm welcome to all of its staff,” Rasheed Al Maraj, Governor of the CBB, said.
The EDB is leading the efforts in Bahrain to drive the private sector as an engine of growth, support further diversification of the economy and ultimately elevate national living standards by creating greater opportunities for all Bahrainis.
According to the recent Bahrain Economic Quarterly, the financial sector in the Kingdom grew by 1.7% in the twelve months to June 2011 and the number of licensed financial firms now stands at 415, in comparison to 406 at the end of 2010.
Notz Stucki was founded in Geneva in 1964 as an asset management firm and was one of the first to identify the potential offered by hedge fund managers. It was a pioneer investor with early fund managers including George Soros, Paul Tudor Jones and Louis Bacon, before creating its own funds a decade later. The Group’s new Manama office joins its existing operations in Zürich, London, Bermuda, Luxembourg and Singapore.