Barclays opens Riyadh office, appoints Majed Al Hassoun as Saudi Arabia CEO

Barclays has opened a new office in Riyadh’s King Abdullah Financial District (KAFD) and appointed Majed Al Hassoun as Chief Executive Officer and Head of Investment Banking for Barclays Capital Saudi Arabia, as the bank expands its presence in the Kingdom.

The move follows Barclays receiving an operational licence from Saudi Arabia’s Capital Market Authority (CMA) to conduct investment banking and global markets activities. The bank had secured a Regional Headquarters (RHQ) licence in 2025.

Based in Riyadh, Al Hassoun will lead the local legal entity and oversee the expansion of Barclays’ investment banking and global markets business. He will work with corporate, government and institutional clients, drawing on the bank’s global advisory and capital markets capabilities. He will report to Khaled El Dabag, CEO of Barclays’ regional headquarters, Co-CEO and Head of Investment Banking for the Middle East.

Al Hassoun joins Barclays from State Street Saudi Arabia, where he served as Chief Executive Officer. He brings more than 20 years of experience in financial services and investment banking, having previously held leadership positions at Citigroup and Saudi Fransi Capital.

Barclays has also announced several senior appointments to support its operations in the Kingdom. Abdulaziz Abdulrahman A. Alshenaifi has been appointed Head of Markets, while Abdullah Al Toukhi will lead Institutional Coverage. Susheel Jain has joined as Chief Financial Officer, and Abdulrahman Alanazi has been appointed Head of Compliance and Money Laundering Reporting Officer.

The appointments build on the earlier selection of Mohammed Al-Sarhan as Independent Non-Executive Chairman of Barclays Capital Saudi Arabia. Talal AlKhereiji has also joined the board as an Independent Non-Executive Director.

Commenting on the expansion, C. S. Venkatakrishnan, Group Chief Executive of 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.”

Al Hassoun said he looked forward to building the bank's business in the Kingdom and strengthening relationships with clients and stakeholders.

“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 added.

Saudi Arabia remains a key market in Barclays’ Middle East strategy, with the bank pointing to the Kingdom’s economic transformation and the development of its capital markets under Vision 2030.

The Riyadh office strengthens Barclays’ local presence as it seeks to expand its advisory, financing and capital markets activities in the region. Its broader Middle East operations also include wealth management services through its global investment banking, markets and private banking platforms.