Barclays stock expands Saudi platform with Riyadh office

Published on 11/12/2026 at 10:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Barclays stock is expanding its Saudi investment banking presence with a new Riyadh office. Majed Al Hassoun will lead the local business.

Saudi Expansion Adds Local Capacity

Barclays opened its Riyadh office after receiving authorization from Saudi Arabia's Capital Market Authority.
Majed Al Hassoun will lead the local entity, supported by senior appointments across markets, coverage, finance and compliance.

Barclays, GB0031348658, Illustration mit AI erstellt.

On Monday, November 9, Barclays announced the opening of a new office in Riyadh's King Abdullah Financial District and named Majed Al Hassoun chief executive officer and head of investment banking at Barclays Capital Saudi. The bank's announcement said the move strengthens its presence in one of the Middle East's key capital markets.

Barclays said the office follows an operational license from Saudi Arabia's Capital Market Authority to conduct investment banking and Global Markets activities in the Kingdom. The authorization builds on a regional headquarters license secured in 2025 and gives the bank a local platform for serving corporate, government and institutional clients.

Local Leadership Sets Expansion Focus

Al Hassoun will lead the Saudi legal entity and report to Khaled El Dabag, chief executive of the regional headquarters and co-chief executive of Barclays' Middle East business. He joins from State Street Saudi Arabia and brings two decades of investment banking and financial-services experience in the country, including senior roles at Citigroup and Saudi Fransi Capital.

Barclays 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 joined the board as an independent non-executive director, alongside chairman Mohammed Al-Sarhan.

Chief Executive C. S. Venkatakrishnan said the Riyadh office would connect clients in the Kingdom with Barclays' global capabilities. Al Hassoun said the presence would complement the established Middle East franchise and help deepen relationships with clients and stakeholders.

What Investors Watch Next

The expansion gives Barclays greater local access to Saudi corporate, government and institutional activity, but its investment relevance will depend on client wins, revenue generation and the cost and control demands of building the operation. Saudi Arabia's Vision 2030 program is supporting the development of its capital markets, providing the strategic backdrop for the move.

Barclays stock traded at 5.21 euros on Lang & Schwarz at 10:07 CET on Thursday, November 12, 2026.