"Camco Investment" renamed to "Burqan Capital Investment"

Camco Invest announced that its Board of Directors recommended, during its meeting today, that the company’s General Assembly change the company’s name from “Camco Investment” to “Burqan Capital Investment,” subject to the approval of the General Assembly and the completion of the necessary regulatory and legal procedures.

The proposal to change the name follows Burqan’s indirect acquisition of a majority stake in Camco Invest through United Gulf Bank, representing a strategic milestone in the ongoing evolution of the relationship between the two entities. It also reflects the natural progression of the cooperation that has grown over the past years, as Camco Invest and Burqan have worked to enhance synergies and offer more integrated banking and investment products and services to their respective customer bases.

The proposed name goes beyond a mere change in corporate identity, aiming to strengthen the company’s position within Burqan’s broader ecosystem and provide a stronger platform for future growth. By increasing the alignment between the two entities’ complementary capabilities, distribution channels, and customer relationships, the strategic alignment is expected to contribute to the development of more integrated financial solutions, facilitate access to investment opportunities, and enhance the overall customer experience.

The name change proposal also reflects the company’s aspiration to develop its established investment platform and leverage the opportunities arising from a closer integration with the bank. This includes exploring additional areas of cooperation in wealth management, asset management, investment banking, financial brokerage, and other investment-related services, while continuing to meet the needs of institutional, corporate, and individual clients.

In addition, the proposed name change will not affect the company’s established governance structure or its commitments to its shareholders. Following the completion of the name change, the company will continue to operate as an administratively independent entity listed on the Kuwait Stock Exchange, under the supervision of its own Board of Directors and management team. The Board of Directors and executive management will continue to be committed to protecting the rights and interests of all shareholders, including minority shareholders, and ensuring that the company continues to conduct its business in accordance with applicable regulatory frameworks and corporate governance standards.

Commenting on the announcement, Sheikh Talal Ali Abdullah Al-Jaber Al-Sabah, Chairman of the Board of Directors, stated: “The proposal to change the name represents an important milestone in the company’s ongoing evolution and reflects the progress achieved through our relationship with Burqan. It also provides a stronger platform to build upon our established capabilities, continue achieving sustainable growth, and create long-term value for our shareholders and customers.”

He added: “The company will continue to operate under its established governance framework, under the supervision of its Board of Directors and executive management, while remaining listed on the Kuwait Stock Exchange. We reaffirm our commitment to protecting the rights and interests of all shareholders and upholding the principles of transparency, accountability, and sound governance.”

For his part, Faisal Mansour Sarhoo, Chief Executive Officer, said: “Over the past years, Camco Invest and Burqan have made tangible progress in developing synergies between banking and investment expertise to deliver greater value to customers. The proposed name change is the natural next step in this journey and provides a platform to continue growing under a unified identity.”

Sarhoo added: “Our focus is on translating this strategic alignment into tangible benefits, including a smoother customer experience, expanded access to financial solutions, and enhanced distribution capabilities, while continuing to develop products and services that meet evolving customer needs. This step also creates opportunities to leverage our shared capabilities more efficiently, improve operational efficiency, and support sustainable business growth.”

It is worth noting that the proposed name change remains subject to approval by the company’s general assembly and the completion of applicable regulatory and legal procedures. The implementation timeline and associated branding steps will be announced in due course.