The British banking giant opens its new office at the King Abdullah Financial District (KAFD) and appoints Majed Al-Hassoun as CEO of its Saudi operations, expanding its investment banking, capital markets, and international financing activities.

Riyadh | BETH

November 9, 2026

British banking giant Barclays announced on Monday the opening of its new office at the King Abdullah Financial District (KAFD) in Riyadh, strengthening the presence of one of the world's leading financial institutions in the Saudi market and supporting the expansion of its financial and investment activities in the Kingdom and the Middle East.

The opening follows the bank's receipt of an operating license from Saudi Arabia's Capital Market Authority to conduct investment banking and global markets activities, building on the regional headquarters license it obtained in 2025.

Saudi Leadership and Investment Expansion

The bank appointed Majed Al-Hassoun as Chief Executive Officer and Head of Investment Banking at Barclays Capital Saudi Arabia to lead its operations and develop relationships with corporations, government entities, and investment institutions.

Al-Hassoun brings nearly two decades of experience in the financial sector, including senior leadership positions at State Street Saudi Arabia, Citigroup, and Saudi Fransi Capital.

Barclays has also strengthened its board with the appointment of Talal Al-Khereiji as an independent non-executive director, alongside Chairman Mohammed Al-Sarhan, and has made senior appointments across markets, finance, and compliance.

Connecting Riyadh to Global Financial Markets

Barclays Group Chief Executive C. S. Venkatakrishnan said the new office enhances the bank's ability to serve clients in Saudi Arabia and connect them with the capabilities of its global financial network, while investing in local talent.

The bank's regional services include financial advisory, financing, capital markets, and wealth management, enabling Saudi institutions to access international expertise and investment opportunities.

BETH Analysis | Riyadh Attracts Global Financial Institutions

The significance of Barclays' new office extends beyond adding another international banking name to Riyadh's growing business community. It reflects the expansion of global financial institutions seeking to benefit from the growth of the Saudi market and the diversification of its financing and investment instruments.

The move also reinforces KAFD's position as a center for international banks, investment institutions, and global corporations, amid Saudi Arabia's economic transformation under Vision 2030.

The greatest value of this expansion lies in bringing international financial services closer to the Saudi market, strengthening its capacity to finance businesses and major projects, and connecting domestic capital with global financial markets.