Auerbach Grayson, the New York-based securities firm that focuses on international trading for US institutional investors, says firms in Bahrain and Kuwait have joined its international network of broker partners.
The firms, TAIB Securities WLL of Bahrain and Global Investment House of Kuwait, will be Auerbach Grayson’s exclusive representatives in the each country. They join a worldwide network of brokerage firms in 90 different countries.
“We are delighted to be the Bahraini affiliate of Auerbach Grayson’s exceptional global network of local brokers,” says Khaled W. Kurdieh, head of TAIB Securities. “We look forward to providing our brokerage services and wealth of knowledge about Bahraini listed companies to US institutions.”
Bader AL-Sumait, executive vice president at Global Investment House, added that he was pleased to work with Auerbach Grayson in Kuwait. “It falls in line with our strategy to attract foreign investments to the region,” he says. “Our research capabilities and knowledge in the GCC markets will be an added value to Auerbach Grayson and its clients to make the right investment decisions.”
TAIB Securities is a wholly-owned subsidiary of TAIB Bank E.C., founded in 1979 as Bahrain’s first investment bank. With eight offices in six countries, TAIB Bank recently moved into its own landmark building in Manama’s Diplomatic Area and is in the process of becoming one of the region’s first private banks.
Kurdieh of TAIB Securities is a graduate of Western International University in Phoenix, Arizona, and worked as a regional manager in the Gulf and Middle East for Charles Schwab & Co., Inc. He joined TAIB Securities in 2003.
Global Investment House is a Kuwaiti investment company licensed by the Central Bank of Kuwait. Founded in 1998, Global was the first firm to offer research and analysis about companies listed on the Kuwait Stock Exchange, and has since expanded its coverage to include Saudi Arabia, Bahrain, Oman and Qatar. Global is currently expanding in the Gulf region and recently acquired a 65 percent interest in Shurooq Investment Services Co. of Oman. Al-Sumait is a graduate of Chapman University, Orange, California, and prior to Global was chairman and managing director of Al Oula Brokerage Co.
With the addition of securities firms in Bahrain and Kuwait, Auerbach Grayson has local partners in four of the six GCC (Gulf Cooperation Council) countries. The other partners are Al Ahlia Securities Co. in Oman and SHUAA Capital p.s.c. in the United Arab Emirates. Auerbach Grayson’s Middle East network also includes local partners in Cyprus, Israel, Jordan, Lebanon and the Palestine Authority.