Saudi Arabia continues to strengthen its position as a premier provider of wealth management solutions in the Kingdom. This progress is fueled by its exceptional performance and unwavering commitment to strategic objectives set since its inception six years ago, aiming for significant expansion within the Saudi market.

Further attesting to NBK Wealth Group’s achievements in strengthening its foothold in the Saudi market, NBK Wealth – Saudi Arabia clinched the top spot as the company with the highest Assets Under Management (AUM) in the fourth quarter of 2023 among financial institutions licensed by the Saudi Capital Market Authority (CMA).

As outlined in a comprehensive report compiled by CMA regarding the operations of its licensed financial institutions in the fourth quarter of the previous year, Watani Wealth Management, a subsidiary of NBK Group, witnessed a remarkable surge in assets under management. The assets soared by an impressive 1,004%, growing from SAR 280.8 million at the end of the third quarter to SAR 3.1 billion by the conclusion of 2023.

Strategic Overview

Mr. Musaad F. Al-Sudairy, Board Member & Chief Executive Officer of Watani Wealth Management, said: “We are steadily moving towards strengthening our footprint in the Saudi market by offering a wide range of innovative and advanced solutions in wealth management.”

Al-Sudairy emphasized the company’s commitment to becoming the premier and trusted option for wealth management solutions in the Saudi market. This objective is pursued through a diverse array of operations spanning wealth management, asset management, investment services, and brokerage.

Moreover, Al-Sudairy added that the significant increase in the company’s assets under management clearly demonstrates the confidence that the company holds in the Saudi market. This confidence is a result of its consistent delivery of distinctive and innovative products and services to high-net-worth individuals and families since its establishment in 2018. Furthermore, it underscores the prudent strategic vision of NBK Group in founding the company, recognizing the Saudi market as a promising arena for growth and prosperity in the realm of wealth management.

Al-Sudairy further highlighted that the overall strength of NBK Wealth Group derives from its association with NBK Group, a renowned financial organization, both locally and internationally. He emphasized that this connection serves as a driving force for NBK Wealth to enhance its performance and deliver innovative services and products that exceed customer expectations.

“We don’t provide off-the-shelf solutions; instead, we craft personalized wealth management strategies aligned with each client’s unique financial goals and aspirations. Our dedicated team of wealth management experts offers a suite of outstanding benefits, guaranteeing our clients an unparalleled experience,” He said.

Global presence

Al-Sudairy emphasized that NBK Wealth Management is leveraging the expansion of NBK Wealth Group, which recently unveiled its new brand on a global scale through an extensive network of integrated operations spanning nine cities across five countries. He underscored that NBK Wealth includes NBK Capital, NBK Banque Privée (Suisse), National Bank of Kuwait (International) PLC, and Watani Financial Brokerage Company (WFBC), establishing itself as the largest entity in Kuwait and one of the largest in the MENA region in wealth management. With assets under management exceeding US$20 billion as of last year’s end, the entity stands as a formidable player in the industry.

NBK Wealth has secured a prominent standing by offering distinctive services that extend beyond traditional investment realms. These encompass asset management, trading, lending, deposits, financial advisory, and a spectrum of customized and innovative services tailored for high-net-worth individuals and families. This suite of offerings is delivered by a committed team of over 125 investment experts, traders, and 75 relationship managers, ensuring personalized attention and expertise.

The Group utilizes its deep market expertise, worldwide presence, and dedication to pioneering investment strategies to empower clients in realizing their long-term financial objectives with steadfast assurance. Meanwhile, NBK Wealth benefits from strategic partnerships with JPMorgan Asset Management and Intervest, strengthening its service portfolio across various fronts, such as advisory services and the creation of innovative investment solutions.​​​​