SunGard Financial Systems, a leading software and technology services company, has announced the opening of its new office in Riyadh as part of its regional expansion strategy.

The launch was announced at the SunGard ‘industry seminar’ held in the Saudi capital on Sunday, where over 70 senior finance industry professionals from across the Middle East region met to discuss the Kingdom’s increasing role in the regional and global economies.

The new office located in the Kingdom Tower in the Olaya commercial district, will help the company work closely with customers in the Kingdom and also support the country's growing importance to both the regional and global finance industries, said a top official.

Speaking at the launch, Wissam Khoury, managing director, SunGard Financial Systems, Middle East, said: “The growing importance of Saudi to both the regional and global economies coupled with its rapidly developing finance industry makes it a driving force in the future growth of the Middle East.'

'SunGard’s increased commitment to Middle East through establishment of Riyadh office will help us work even more closely with our Saudi customers. This investment in Saudi demonstrates our strong confidence in its local financial services industry,” he added.

SunGard, said Khoury, already serves a wide variety of customers in the Middle East, including retail, commercial and investment banks, as well as corporate treasuries.

With annual revenues of  $4.5 billion, SunGard is the world’s largest privately held software and services company and is ranked 480 on the influential Fortune 500 list of leading global companies.

SunGard has more than 17,000 employees worldwide and serves approximately 25,000 customers in more than 70 countries.-TradeArabia News Service