The Swiss company is an independent corporation for assets management in Europe and its assets are have an estimated value of $7.5 billion.
The company’s decision to choose Bahrain as its regional operations head office comes on the trail of a series of leading international financial services and investment companies who have chosen Bahrain as their regional headquarters last year.
“We welcome the decision made by Knots Stocky when they choose Bahrain as their regional headquarters and we’re delighted so much because Knots Stocky shall introduce its expertise and investments into the Kingdom and contribute into the growth of financial sector which is a vital part of our diversified national economy,” EDB’s CEO Shaikh Mohammed bin Isa Al Khalifa, said.
Knots Stocky general director Marya Sophia Kurty said that the history of Knots Stocky dates back the year 1964 and therefore we have a long track record in funds management and finding the best investment portfolios managers and we continuously succeeded throughout both favourable and difficult market cycles, praised the Kingdom of Bahrain’s hosting of financial services organizations in the region under all economic circumstances and cited the Kingdom’s ability to consolidate its position as a regional financial hub in the region and the provision of excellent infrastructures, legislation and favourable atmospheres which attract investors and companies to launch their operations in the region in addition to EDB’s great support in the process, and hoped to build a long, fruitful cooperation relation with the Kingdom of Bahrain and for an ongoing business with regional investors.
The Bahrain Economic Development Board (EDB) implements the Bahrain Economic Vision 2030 which the Kingdom’s official plan for socio-economic development for the next two decades led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and EDB’s President. The plan encourages the private sector to act as a dynamo for growth and supports the diversification of the Kingdom’s economy, raising national standard of living and ultimately creation of more job opportunities for Bahraini citizens.
According to the quarterly economic bulletin issued by the EDB, the Kingdom of Bahrain’s financial sector accomplished a growth rate of 1.7% during the public financial year ending in June 2011. The banking institutions in Bahrain have risen from 406 to 417 last year.
Knots Stocky was established in Geneva, Switzerland, in 1964 as an assets management company. It was the first company which paid attention to the potentials of reserve funds, and made pioneering investments with investment funds directors including George Soros, Paul Theodore, Louis Bacon, before launching its own funds ten years ago. The group’s new office in Manama joins its existing offices in Zurich, London, Bermuda, Luxembourg and Singapore.