Kuwait-based Kamco Investment Company has signed a memorandum of understanding (MoU) with Bahrain-based Takaud Savings and Pensions.

The MoU will provide a framework to facilitate business and client servicing synergy between both companies, including the investment and asset management sectors, said a report in the Gulf Daily News (GDN), our sister publication.

Kamco chief executive Faisal Sarkhou said the MoU reflects the company's focus on enhancing services, and offering a diverse pool of investment products for clients and shareholders.

"This will open doors to investment collaboration between the two companies in Kuwait, Bahrain, and other countries in the region," he said.

Sarkhou said Kamco has one of the highest assets under management in the region and is always on the lookout for new opportunities that will add further value to advisory and investment banking services.

Takaud chief executive Luc Métivier said building a long-term relationship with Kamco would help both companies to provide new services to clients.

Takaud specialises in providing long-term savings, investments and pensions solutions to individuals and corporations in the local and expatriate communities across Mena.

It is equally owned by Kuwait Projects Company (Kipco) and by United Gulf Bank, a member of Kipco Group. - TradeArabia News Service