Barclays has opened a new office in Riyadh’s King Abdullah Financial District (KAFD) as it expands its investment banking and markets operations in Saudi Arabia.

The opening follows the bank securing an operational licence from the Capital Market Authority to conduct investment banking and global markets activities in the Kingdom, building on a regional headquarters licence obtained in 2025.

Majed Al Hassoun has been appointed CEO and head of investment banking at Barclays Capital Saudi, where he will lead the local business and oversee its growth. He joins from State Street Saudi Arabia, where he was CEO, and has previously held senior investment banking roles at Citigroup and Saudi Fransi Capital.

Barclays has also appointed Abdulaziz Abdulrahman A. Alshenaifi as head of markets, Abdullah AlToukhi as head of institutional coverage, Susheel Jain as chief financial officer and Abdulrahman Alanazi as head of compliance and money laundering reporting officer. Talal AlKhereiji will join chairman Mohammed Al-Sarhan on the board as an independent non-executive director.

Group CEO C. S. Venkatakrishnan said: "The opening of our Riyadh office marks an important step in our growth in Saudi Arabia and across the Middle East. It strengthens our ability to support clients in the Kingdom, connecting them to the full strength of Barclays’ global business. By investing in regional talent, we continue to deepen our presence and reaffirm our commitment to Saudi Arabia’s future.”

Saudi Arabia is a key market in Barclays’ Middle East strategy, as the Kingdom develops its capital markets under Vision 2030. The new office builds on the bank’s established regional investment banking franchise, which already has a presence in markets including the UAE (Dubai has traditionally served as its regional hub.) and Qatar.

Al Hassoun added: "I am delighted to join Barclays and take on the leadership of building a strong business for the bank in the Kingdom. Our presence in Riyadh complements Barclays’ well-established Middle East franchise and I look forward to drawing on that regional depth as we deepen relationships with our clients and stakeholders and strengthen the way we support their growth ambitions.”

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