Barclays Opens New Office in Riyadh to Expand Its Presence in Saudi Arabia
Barclays has opened a new office in Riyadh’s King Abdullah Financial District (KAFD). It’s a part of its plans to expand its business in Saudi Arabia. The move toughen the bank’s presence in one of the Middle East’s important capital markets and shows its long-term commitment to the Kingdom. The opening follows Barclays receiving an operational licence from the Capital Market Authority (CMA) to conduct Investment Banking and Global Markets activities in Saudi Arabia. The bank had earlier secured its Regional Headquarters (RHQ) licence in 2025.
Strengthens Leadership Team
Barclays has appointed Majed Al Hassoun as Chief Executive Officer and Head of Investment Banking at Barclays Capital Saudi to support its next growth phase. Majed is based in Riyadh and will lead the local legal entity and oversee the expansion of the bank’s Investment Banking and Global Markets businesses in the Kingdom. Also, he will work with corporate, government and institutional clients and provide access to Barclays’ global advisory and capital markets capabilities. Additionally, he will represent the bank in its dealings with regulators and key market stakeholders. Majed will report to Khaled El Dabag, CEO of RHQ and Co-CEO and Head of Investment Banking, Middle East.
Who is Majed Al Hassoun
Majed joins Barclays from State Street Saudi Arabia. There, he served as CEO. He brings two decades of experience in investment banking and financial services in Saudi Arabia. His previous roles include Head of Investment Banking at Citigroup and Saudi Fransi Capital.
Other Senior Appointments
Also, Barclays has also made multiple senior appointments to toughen its operations in Saudi Arabia:
- Abdulaziz Abdulrahman A. Alshenaifi – Head of Markets
- Abdullah AlToukhi – Head of Institutional Coverage
- Susheel Jain – Chief Financial Officer
- Abdulrahman Alanazi – Head of Compliance and Money Laundering Reporting Officer
These appointments come after the earlier selection of Mohammed Al-Sarhan as Independent Non-Executive Chairman of the Board for Barclays’ Saudi Arabia franchise. The bank has also appointed Talal AlKhereiji to the Board as an Independent Non-Executive Director, joining Chairman Mohammed Al-Sarhan.
What Barclays Says
Barclays Group Chief Executive C. S. Venkatakrishnan explained that the opening is an important step in the bank’s expansion. He stressed that the Riyadh office will help Barclays support clients effectively by connecting them with the bank’s global business and capabilities. Also, he emphasised the importance of investing in regional talent to intensify its local presence and indicate its commitment to Saudi Arabia’s future.
Majed Al Hassoun also expressed his enthusiasm about joining Barclays and leading its business in the Kingdom. He explained that the Riyadh office complements the bank’s established presence in the Middle East. Also, he stressed the opportunity to use Barclays’ current regional expertise to build stronger relationships with clients and stakeholders and support their business growth ambitions.
About Barclays
Barclays is a global financial services company. It operates in banking areas, including retail banking, wholesale banking, investment banking, wealth management, and credit cards. Barclays offers services like personal banking, loans, mortgages, and investment products.
Wrapping Up
The opening of Barclays’ new Riyadh office is another step in its expansion across Saudi Arabia. The bank strives to strengthen client relationships with its operational licence, new leadership appointments and investment in local talent.
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