State Street Corporation, one of the world's leading providers of financial services based in Boston, US, has announced the appointment of Majed Al Hassoun as the Country Head for Saudi Arabia and Bahrain, to drive and execute the firm’s Investment Services and Global Advisors strategy.

 

Reporting to Oliver Berger, Head of Emerging Growth Markets, State Street, and Emmanuel Laurina, Head of Middle East, Africa and Official Institutions, State Street Global Advisors, Al Hassoun will drive the firm’s Middle East growth strategy for Saudi Arabia and Bahrain, and be responsible for the development and execution of an enterprise-wide approach to grow State Street’s business in these markets.

 

Based in Riyadh, Al Hassoun will act as CEO of State Street Saudi Arabia Financial Solutions, subject to regulatory approval, and will be responsible for ensuring the entity’s compliance with regulatory and legal expectations.

 

Oliver Berger, Head of Emerging Growth Markets at State Street, commented: "Our Investment Services and Global Advisors businesses are going through a significant growth journey."

 

"We are pleased to have Al Hassoun, whose experience and network will be invaluable to State Street, to join us in implementing our growth strategy in the Middle East, driving business growth as well as strengthening our presences and connections in Saudi Arabia and Bahrain," he noted.

 

Emmanuel Laurina, the Head of Middle East, Africa and Official Institutions, State Street Global Advisors, said: "Al Hassoun has two decades of experience in the financial services industry, and his credential as a senior leader speaks volumes, making Majed a great asset to the firm. We are all excited to have Majed as a member of the core team to deliver our ambitious plan."

 

Al Hassoun said: "State Street’s global strength and expertise are two of the many things that truly set the firm apart. I am thrilled to join the talented team of investment services and asset management experts, and look forward to working with them to create synergy across functions and further grow our presence in the market."-TradeArabia News Service