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Notz, Stucki & Cie S.A. receives a License from the Central Bank of Bahrain

Manama, Kingdom of Bahrain - 16 January 2012 - The Central Bank of Bahrain ("CBB") has granted a Representative Office License to Notz, Stucki & Cie S.A ("NS"), a member of the Swiss Association of Asset Managers (SAAM) based in Geneva, to operate in the Kingdom of Bahrain.

Notz, Stucki & Cie S.A. from its main office located in Geneva and its presence in Luxembourg, Singapore, London, Zurich and Bermuda has provided a wide range of asset management services to individual and institutional investors.

Mr. Ahmed Al-Bassam, Director of Licensing & Policy, Central Bank of Bahrain

"We welcome Notz, Stucki & Cie S.A.'s decision to choose the Kingdom of Bahrain as its first presence in the region.

The past few years have witnessed an increasing interest for asset management companies on an international scale. The Kingdom of Bahrain has accommodated both regional and international asset management companies, which have chosen Bahrain as their hub to reach the market in the Middle East. In addition the Kingdom of Bahrain has created a proper environment for the growth of Financial Institutions such as Banks, Takaful & Retakaful Insurance Firms, Asset Management Firms, and Trust Service Providers, by creating and implementing relevant regulations. This has encouraged many Financial Institutions worldwide to provide their financial services through setting up a base for their operations in the Kingdom of Bahrain. It is worth mentioning that the CBB has granted a total of 20 new licenses during 2011, of which four were for international asset managers, compared with a total of 14 licenses granted in 2010."

Herwig Von Hove, Managing Partner and Head of the NS Executive Committee said, "We are delighted to have received the license from the CBB for a Representative Office. NS is one of the largest, fully independent asset management groups in Europe with a long history (founded in 1964) and continuous strong track record; the firm offers advisory and discretionary portfolio management and multi-manager funds. We have a global presence with a strong client base and it was a natural progression to establish a presence in the region."

Maria Sofia Kourti, Head of Middle East who was named General Manager of the Bahrain Representative Office added, "Having done a feasibility study on the region, we found the Kingdom of Bahrain's regulatory framework most robust for our business model, which heavily influenced our decision to establish our Gulf/Middle East presence here. We are pleased to be welcomed by the CBB in the Kingdom and we are looking forward to being a key contributor in both the alternative investment and the traditional asset management space."

-Ends-

Central Bank of Bahrain (CBB)
Contact: External Communications Unit
Tel: +973 17547357/17547360
E-mail: media@cbb.gov.bh
Website: www.cbb.gov.bh

© Press Release 2012