KUWAIT CITY, Oct 6: The Kuwait Direct Investment Promotion Authority (KDIPA) announced Monday the official opening of a Goldman Sachs office in the State of Kuwait, marking a new milestone in the decades-long strategic partnership between the global financial institution and Kuwait.

In a statement to Kuwait News Agency (KUNA), KDIPA highlighted that Goldman Sachs’ decision to establish a physical presence in Kuwait aligns with ongoing efforts to deepen bilateral cooperation in investment banking, capital markets, and asset management. The partnership, which spans over 50 years, is now evolving to include broader initiatives aimed at fostering local talent and supporting national economic goals.

A cornerstone of the partnership is a professional training program led by Goldman Sachs, designed to develop national competencies across various fields. The initiative reflects a commitment to enhancing local expertise and integrating Kuwait’s workforce into the global financial landscape.

KDIPA Director General Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah emphasized Kuwait’s commitment to attracting long-term, influential global investors who align with national development priorities, particularly in talent development and capacity building. He noted that such partnerships are vital to advancing Kuwait’s economic diversification efforts and achieving sustainable growth under the framework of Kuwait Vision 2035.

Commenting on the occasion, David Solomon, Chairman and CEO of Goldman Sachs Group, praised Kuwait’s rapid transformation and forward-looking economic strategy. He expressed optimism about strengthening what he described as a “historic partnership” through the new office, which will play a key role in building capabilities across the Middle East and enhancing client services.

Solomon also reaffirmed the firm’s ongoing commitment to the region, stating that Goldman Sachs will continue to invest in the attraction and development of outstanding Kuwaiti talent to support its regional and global operations.

As part of its expansion in Kuwait, Goldman Sachs has appointed Mohammed Al-Matrouk as Managing Director to lead the new office and oversee business growth in the country. In addition, Fahad Al-Ibrahim has been named Managing Director within the firm’s private wealth management division.

The firm noted that this expansion reflects Goldman Sachs’ broader strategy to deepen its presence in the Middle East—a region identified as a key growth market for the group across investment banking, asset management, and private wealth services.

Founded in 1869, Goldman Sachs is a leading global financial institution headquartered in New York, with offices in all major financial centers worldwide. The firm serves a diverse client base, including corporations, financial institutions, governments, and individuals.