Barclays has opened a new office in Riyadh’s King Abdullah Financial District (KAFD).

The move comes after the bank received an operating licence from the Capital Market Authority (CMA).

It allows Barclays to carry out investment banking and global markets work in Saudi Arabia.

It adds to the regional headquarters (RHQ) licence the bank gained in 2025.

“The opening of our Riyadh office marks an important step in our growth in Saudi Arabia and across the Middle East,”

said C. S. Venkatakrishnan, Group Chief Executive at Barclays.

“I am delighted to join Barclays and take on the leadership of building a strong business for the bank in the Kingdom,”

said Majed Al Hassoun, Chief Executive Officer and Head of Investment Banking at Barclays Capital Saudi.

Based in Riyadh, Al Hassoun will lead the local legal entity and grow its investment banking and global markets business.

He will also act as the bank’s senior contact for regulators and others in the market.

In this role, he will report to Khaled El Dabag, who heads RHQ and leads investment banking for the Middle East.

El Dabag is also Co-CEO of the bank’s Middle East business, along with Walid Mezher. Before this, Al Hassoun was chief executive of State Street Saudi Arabia.

The bank has made four other senior hires. Abdulaziz Abdulrahman A. Alshenaifi is Head of Markets.

Abdullah AlToukhi is Head of Institutional Coverage. Susheel Jain takes on the role of Chief Financial Officer.

Abdulrahman Alanazi is Head of Compliance and Money Laundering Reporting Officer.

Talal AlKhereiji has joined the board as an Independent Non-Executive Director. He sits with Chairman Mohammed Al-Sarhan, who was appointed earlier.

Featured image: Edited by Fintech News UAE, based on image by Barclays on LinkedIn and dit26978 via Magnific.