LONDON, June 25, 2013 /PRNewswire/ --
The Kuwait Prime Minister H.H. Sheikh Jaber al Mubarak Al Sabah is to be the guest of honour at the 60th anniversary lunch of the Kuwait Investment Office [KIO] at The Guildhall in the City of London on Friday June 28th. The Lord Mayor Alderman Roger Gifford will be welcoming the Prime Minister at the entrance of The Guildhall and the lunch will be attended by more than 400 leading global financiers and industry leaders and will be held under His Highness patronage. The parent of the KIO, the Kuwait Investment Authority [KIA], is the world's oldest sovereign wealth fund and still one of the largest.
The lunch will be hosted by the Chairman and the Board of Directors of the KIA. Bader Mohammed Al Sa'ad, the Managing Director of the KIA, and Osama Al-Ayoub the President and Chief Executive of the KIO, will be receiving the guests. Osama Al-Ayoub said: "It is a very great privilege for us to have H.H. the Prime Minister honour us with his presence on this occasion which serves to highlight the significance that is attached by His Highness to the role of KIA in managing the country reserves".
The KIO is the main investment arm and the flagship of the KIA. It is a major investor in the British economy as well as globally across many asset classes. The KIO is responsible for investing a significant portion of the future generations fund of Kuwait.
The KIO was established in 1953 when H.H. Sheikh Abdullah Al Salem Al Sabah, the Amir of Kuwait at that time, signed an agreement with the Political Agent of Great Britain to Kuwait, creating the Kuwait Investment Board in the City of London. In 1965, the KIB was renamed as the Kuwait Investment Office. During the 1990 invasion and the 1991 liberation of Kuwait, the KIO played a crucial role in funding the Kuwait government in exile as well as hosting various Kuwaiti financial institutions. KIO's role in Kuwait's liberation and reconstruction was vital in Kuwait's quick recovery.
SOURCE Kuwait Investment Office [KIO]