Business · Companies · 9 hrs ago
Barclays opens Riyadh office to expand Saudi and regional business
Barclays has opened a new office in Riyadh, Saudi Arabia’s capital, to grow its business in the country and the wider Middle East.
The British bank received a licence from Saudi Arabia’s Capital Market Authority to offer investment banking and global markets services.
Majed Al Hassoon will lead Barclays’ local business as chief executive and head of investment banking at Barclays Capital Saudi Arabia.
He joined from State Street Saudi Arabia and has held senior finance roles at Citi and Saudi Fransi Capital.
The office adds to a growing presence of global financial firms in Riyadh, which Saudi Arabia is seeking to establish as a regional business and financial centre.
The country’s regional headquarters programme is part of Vision 2030 and aims to attract international companies; more than 700 have set up regional headquarters there.
Barclays is also expanding across the Middle East, including in investment banking, capital markets and wealth management.
The bank has said it is looking to expand its activities in Turkey as well as Saudi Arabia.
Barclays opened a new office at the King Abdullah Financial District in Riyadh to expand its business in Saudi Arabia and the Middle East.
The opening followed the bank’s operational licence from the Saudi Capital Market Authority for investment banking and global markets activities.
Barclays appointed Majid Al-Hassoun as chief executive and head of investment banking at Barclays Capital Saudi Arabia.
The bank said the office would strengthen its ability to connect Saudi clients with its global services and capabilities.
The move is part of Barclays’ broader effort to grow its Middle East business.
- Who
- Barclays, the British bank.
- What
- It opened a new Riyadh office and appointed Majid Al-Hassoun to lead its local entity.
- When
- November 9, 2026.
- Where
- King Abdullah Financial District, Riyadh, Saudi Arabia.
- Why
- To expand its Saudi and regional business and connect local clients with its global services.
This story does not have two clearly opposing sides.
Barclays received a licence for its regional headquarters in Saudi Arabia.
Deutsche Bank received a licence for its regional headquarters in Saudi Arabia.
Jaideep Khanna said Barclays was looking to expand its activities in Turkey as well as Saudi Arabia.
Barclays opened its new Riyadh office after receiving an operational licence for investment banking and global markets activities.
- Office location
- King Abdullah Financial District, Riyadh
- Operational licence
- Saudi Capital Market Authority
- Regional headquarters licence
- Received in 2025
- Local chief executive
- Majid Al-Hassoun
- Companies with regional headquarters in Saudi Arabia
- More than 700
What people are saying
The opening of the office represents an important step in the growth journey of the bank’s business in Saudi Arabia and the Middle East, and enhances its ability to connect clients in the Kingdom with its global services and capabilities.
Barclays has a strong conviction in the opportunities available in the Middle East.