Barclays, a prominent diversified bank, has declared the launch of its new office in Riyadh’s King Abdullah Financial District (KAFD), marking a significant milestone in the expansion of its operations in Saudi Arabia.
The office launch comes after Barclays obtained its operational license from the Capital Market Authority (CMA) to carry out Investment Banking and Global Markets operations in the kingdom.
This leverages the Regional Headquarters (RHQ) license obtained in 2025 and demonstrates the bank’s enduring dedication to Saudi Arabia and its goal to assist clients as the kingdom’s capital markets evolve and expand.
To propel this next stage of growth, Barclays has named Majed Al Hassoun as CEO and Head of Investment Banking, Barclays Capital Saudi.
Located in Riyadh, Majed will oversee the local legal entity and enhance the expansion of the bank’s Investment Banking and Global Markets operations in Saudi Arabia.
In this position, he will collaborate closely with corporate, government, and institutional clients, providing Barclays' worldwide advisory and capital markets services, while acting as the bank's senior representative to regulators and important market stakeholders.
Majed will answer to Khaled El Dabag, the Chief Executive Officer of RHQ and Co-CEO and Head of Investment Banking for the Middle East. Majed comes to Barclays from State Street Saudi Arabia, where he held the position of Chief Executive Officer. He has two decades of experience in investment banking and financial services in Saudi Arabia, having served as Head of Investment Banking at Citigroup and Saudi Fransi Capital.
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CS Venkatakrishnan, Group Chief Executive of Barclays says, “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”.
On his new role, Majed says, “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,” he adds.
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The bank has also conducted several senior appointments. This list features Abdulaziz Abdulrahman A. Alshenaifi serving as Head of Markets; Abdullah AlToukhi taking the role of Head of Institutional Coverage; and Susheel Jain as Chief Financial Officer.
Abdulrahman Alanazi serves as the Head of Compliance and the Officer for Money Laundering Reporting. These important appointments follow the previous selection of Mohammed Al Sarhan as Independent Non-Executive Chairman of the Board for Barclays' Saudi Arabia operations.
Saudi Arabia plays a crucial role in Barclays’ Middle East strategy, showcasing the nation's economic changes and the ongoing enhancement of its capital markets in line with Vision 2030.
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Barclays provides clients in the Middle East with advisory, financing, capital markets, and wealth management services via its global investment banking, markets, and private banking platforms. Khaled El Dabag and Walid Mezher serve as Co-CEOs of the bank’s franchise in the Middle East.