BlackRock to Open Office in Kuwait Amid Gulf Expansion Strategy

BlackRock Inc. BLK is set to establish an office in Kuwait and has appointed Ali AlQadhi as the head of operations for the region. This was first reported by KUNA, a Kuwaiti state news agency.

Rationale Behind BlackRock’s Move

BlackRock’s Kuwait office is designed to align with the “New Kuwait 2035” vision, while aiding capital markets growth across the Middle East. The office will deliver investment advisory services through a dedicated team specializing in client service, financial advisory and the Aladdin platform, providing clients with advanced investment solutions.

BlackRock Advisors (UK) Ltd obtained an investment adviser license last week, as reported by Kuwait's Capital Markets Authority.

BlackRock’s move comes as the largest asset manager accelerates its Gulf expansion strategy to expand its market share. Last year, Bloomberg reported that BLK obtained a commercial license to conduct operations in Abu Dhabi, while Reuters reported that the asset manager has collaborated with the Public Investment Fund to establish a Riyadh-based multi-asset class investment platform.

Such initiatives align with BlackRock’s global expansion strategy to generate higher revenues and boost assets under management. In June, the company’s India-based joint venture Jio BlackRock Investment Advisers received approval from the Securities and Exchange Board of India to operate as an investment adviser in India. In March, it introduced a bitcoin exchange-traded product (ETP), iShares Bitcoin, in Europe.

Year to date, shares of BlackRock have gained 7.8% against the industry’s decline of 3.9%.

Currently, BLK carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Global Expansion Efforts by Other Finance Firms

Earlier this month, JPMorgan JPM announced its expansion plan to deepen its digital banking footprint in Germany, a strategic move that underscores its ambition to scale operations beyond the United States and strengthen its position in Europe. The launch, slated for the second quarter of 2026, builds on the success of its U.K. digital bank, which has attracted millions of customers since its 2021 debut.

As part of the expansion, the company plans to establish its headquarters in Berlin by year-end. JPMorgan already has a strong presence in the country, providing investment banking, asset management, private banking and payments services. Following Brexit, it also designated its German unit as its primary European Union hub, underscoring the market’s strategic importance.

Likewise, last month, Moody’s Corp. MCO announced that it plans to secure a majority equity ownership in Middle East Rating & Investors Service, an affiliate of Moody’s and a domestic credit rating agency in Egypt. The terms of the deal remain under wraps.

This move strengthens the firms’ longstanding partnership. It expands Moody’s presence in the Middle East and Africa, reinforcing its commitment to supporting the growth of local capital markets worldwide.

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