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Barclays has opened a new office in Riyadh's King Abdullah Financial District (KAFD) as it builds out its Saudi Arabia franchise.
The opening follows Barclays receiving its operational licence from the Capital Market Authority (CMA) to conduct Investment Banking and Global Markets activities in the Kingdom. It builds on the Regional Headquarters (RHQ) licence the bank secured in 2025.
Barclays has appointed Majed Al Hassoun as Chief Executive Officer and Head of Investment Banking, Barclays Capital Saudi. Based in Riyadh, he will lead the local legal entity and the growth of the bank's Investment Banking and Global Markets business in Saudi Arabia, working with corporate, government and institutional clients and acting as the bank's senior representative with regulators and key stakeholders in the market. He will report to Khaled El Dabag, CEO of RHQ and Co-CEO and Head of Investment Banking, Middle East.
Al Hassoun joins Barclays from State Street Saudi Arabia, where he was Chief Executive Officer. He has two decades of investment banking and financial services experience in Saudi Arabia, including roles as Head of Investment Banking at Citigroup and Saudi Fransi Capital.
C. S. Venkatakrishnan, Group Chief Executive, Barclays
C. S. Venkatakrishnan, Group Chief Executive, Barclays 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.”
Majed Al Hassoun, Chief Executive Officer and Head of Investment Banking, Barclays Capital Saudi said:
“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.”
The bank has also made a number of senior appointments in Saudi Arabia: 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 has joined the Board as Independent Non-Executive Director, alongside Mohammed Al-Sarhan, who was previously appointed Independent Non-Executive Chairman of the Board for Barclays' Saudi Arabia franchise.
Barclays' Middle East franchise is led by Khaled El Dabag and Walid Mezher as Co-CEOs.
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