Kamco Invest, a regional non-banking financial powerhouse with one of the largest AUMs in the region, announced that its board of directors, at a meeting held today (September 21), recommended to the company’s General Assembly the change of the company’s name from Kamco Investment Company to Burgan Capital Investment Company, subject to the approval of the General Assembly and the completion of the necessary regulatory and legal procedures.
The proposed name change follows Burgan Bank’s indirect acquisition of a majority stake in Kamco Invest through United Gulf Bank and represents a strategic milestone in the continued development of the relationship between the two entities.
It further reflects the natural progression of a collaboration that has evolved over the past years, with Kamco Invest and Burgan Bank working together to strengthen synergies and offer more integrated banking and investment products and services to their respective client bases, it stated.
More than a change in corporate identity, the proposed rebranding is intended to reinforce the company’s position within the broader Burgan Bank ecosystem and create a stronger platform for future growth.
By bringing the complementary capabilities of both entities, distribution channels and client relationships closer together, the strategic alignment is expected to support the development of more connected financial solutions, improve accessibility to investment opportunities and enhance the overall client experience.
The proposed name change also reflects the Company’s ambition to build on its established investment platform while benefiting from the opportunities created through closer integration with Burgan Bank. This includes exploring further collaboration across wealth management, asset management, investment banking, brokerage, and other investment-related services, while continuing to serve the needs of institutional, corporate and individual clients.
Furthermore, the proposed rebranding does not change the Company’s established governance structure or its commitment to its shareholders.
Following the change, the company will continue to operate as an independently managed, publicly listed company on Boursa Kuwait, with its own Board of Directors and management team, said the statement from Kamco.
The board and management will remain committed to safeguarding the rights and interests of all shareholders, including minority stakeholders, while ensuring that the Company continues to operate in accordance with the applicable regulatory and corporate governance framework.
Commenting on the announcement, Sheikh Talal Ali Abdullah Al Jaber Al Sabah, the Chairman of Kamco Invest, said: "The proposed name change marks an important milestone in the Company’s continued evolution and reflects the progress achieved through our relationship with Burgan Bank. It provides a stronger platform to build on our established capabilities, pursue sustainable growth and create long-term value for our shareholders and clients."
"The company will continue to operate under its established governance framework, with its own Board of Directors and management, while remaining listed on Boursa Kuwait," stated Sheikh Talal.
"We remain committed to protecting the rights and interests of all shareholders and upholding the principles of transparency, accountability and sound corporate governance," he added.
CEO Faisal Mansour Sarkhou said: "Over the past years, Kamco Invest and Burgan Bank have made meaningful progress in developing synergies and connecting banking and investment expertise to deliver greater value to clients. The proposed rebranding is a natural next step in this journey and provides a platform to further develop these opportunities under a more unified identity."
"Our focus is on translating this strategic alignment into tangible benefits: a more seamless client experience, broader access to financial solutions, stronger distribution capabilities and the continued development of products and services that respond to evolving client needs. It also creates opportunities to leverage our combined capabilities more effectively, enhance operational efficiencies and support sustainable business growth," he added.
The proposed name change remains subject to the approval of the Company’s General Assembly and the completion of the applicable regulatory and legal procedures. Further announcements will be made in due course regarding the implementation timeline and related brand transition, he added.-TradeArabia News Service
