(MENAFN- Kuwait News Agency (KUNA) UK-based Threadneedle Investments has become a strategic shareholder for the Kuwaiti-owned Shariah-compliant investment management firm, Gatehouse Bank, by acquiring two percent of the bank's capital through direct investment via monetary contribution to purchase shares, a Kuwaiti executive officer announced Wednesday.
The investment is significant for Gatehouse Bank as Threadneedle Investments is an internationally renowned company specialized in managing international investments and running about USD 148 billion worth of assets, Fahed Boodai, Chairman of the Board of Gatehouse Bank, said in a press statement.
Gatehouse Bank has contributed in growth of several stocks that, eventually, became economically distinctive, Boodai said, noting that his bank's main job is running investment and financing operations for investors, family offices, and investment and financial companies.
Founded in 2008, Gatehouse Bank is a wholesale Shariah Compliant Investment bank based in London, UK, and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Threadneedle is the international investment management arm of Ameriprise Financial, a leading US diversified financial services company and one of the 30 largest asset management firms globally.
Threadneedle takes its name from Threadneedle Street in London, home to the Bank of England since 1734, original site of the London Stock Exchange, and the traditional meeting place of merchants and brokers.
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