Barclays, a leading diversified bank, has announced the opening of its new office in Riyadh’s King Abdullah Financial District (KAFD), thus marking an important milestone in the build-out of its Saudi Arabia franchise.

The office opening follows Barclays receiving its operational licence from the Capital Market Authority (CMA) to conduct Investment Banking and Global Markets activities in the kingdom. 

This builds on the Regional Headquarters (RHQ) licence secured in 2025 and reflects the bank’s long-term commitment to Saudi Arabia and its ambition to support clients as the kingdom’s capital markets continue to deepen and diversify.

To drive this next phase of growth, Barclays has appointed Majed Al Hassoun as CEO and Head of Investment Banking, Barclays Capital Saudi. 

Based in Riyadh, Majed will lead the local legal entity and accelerate growth of the bank’s Investment Banking and Global Markets business in Saudi Arabia. In this role, he will work closely with corporate, government and institutional clients, delivering Barclays’ global advisory and capital markets capabilities, while serving as the bank’s senior representative with regulators and key stakeholders in the market. 

Majed will report to Khaled El Dabag, the Chief Executive Officer of RHQ and Co-CEO and Head of Investment Banking, Middle East.

Majed joins Barclays from State Street Saudi Arabia, where he served as Chief Executive Officer. He brings two decades of investment banking and financial services experience in Saudi Arabia, including Head of Investment Banking at Citigroup and Saudi Fransi Capital.

CS 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.”

On his new role, Majed 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,” he added.

The bank has also made a number of senior appointments. These include 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.

These key appointments build on the earlier appointment of Mohammed Al Sarhan as Independent Non-Executive Chairman of the Board for Barclays’ Saudi Arabia franchise.

Saudi Arabia is a key market in Barclays’ Middle East strategy, reflecting the kingdom’s economic transformation and the continued development of its capital markets as part of Vision 2030. 

Barclays supports clients across the Middle East with advisory, financing, capital markets and wealth management capabilities through its global investment banking, markets and private banking platforms. The bank’s Middle East franchise is led by Khaled El Dabag and Walid Mezher as Co-CEOs.