Knots Stocky and Associates, a leading Swiss asset-management company, has announced plans to set up its Middle East headquarters in Bahrain.

The Geneva-based firm is worth $7.5 billion and has offices in Zurich, London, Bermuda, Luxembourg and Singapore.

Established in 1964, the company made pioneering investments with top fund directors like George Soros, Paul Theodore and Louis Bacon before launching its own funds 10 years ago.

Welcoming the decision, Economic Development Board chief executive Shaikh Mohammed bin Essa Al Khalifa said Knots Stocky will introduce its expertise and investments into the kingdom and contribute to the growth of its financial sector which is a vital part of Bahrain's diversified national economy.-TradeArabia News Service