Barclays has opened an office in Riyadh's King Abdullah Financial District, completing a staged re-entry into Saudi Arabia and appointing Majed Al Hassoun as Chief Executive Officer and Head of Investment Banking, Barclays Capital Saudi.
The opening follows Barclays receiving its operational licence from the Capital Market Authority to conduct Investment Banking and Global Markets activities in the Kingdom. That licence builds on the Regional Headquarters licence the bank secured in 2025.
Al Hassoun joins from State Street, where he was Country Head for Saudi Arabia and Bahrain and Chief Executive Officer of State Street Saudi Arabia Financial Solutions, a role Executive Moves reported in December 2024. He was based in Riyadh and reported to Oliver Berger, Head of Emerging Growth Markets, and Emmanuel Laurina, Head of Middle East, Africa and Official Institutions for State Street Global Advisors.
Before State Street he spent seven years at Citi in Saudi Arabia as Managing Director and Head of KSA Investment Banking, and ten years before that at Saudi Fransi Capital, latterly as a Director within investment banking. Barclays describes him as bringing two decades of investment banking and financial services experience in the Kingdom.
Al Hassoun reports to Khaled El Dabag, Chief Executive Officer of the Regional Headquarters and Co-Chief Executive Officer and Head of Investment Banking, Middle East. El Dabag leads the Middle East franchise alongside Walid Mezher as Co-Chief Executive Officer.
C. S. Venkatakrishnan, Chief Executive Officer of Barclays, said: "The opening of our Riyadh office marks an important step in our growth in Saudi Arabia and across the Middle East. I am also delighted to welcome Majed Al Hassoun to Barclays, as Chief Executive Officer and Head of Investment Banking, Barclays Capital Saudi. By investing in local leadership and building our on-the-ground capabilities, we are strengthening how we support clients in the Kingdom, connecting them to the full strength of Barclays' global business."
Announcing the appointment, Barclays said Al Hassoun "will lead our growing local team, connecting clients in Saudi Arabia to Barclays' global advisory and capital markets capabilities", and added: "Saudi Arabia is undergoing a significant economic transformation under Vision 2030, and Barclays remains committed to helping clients navigate change, unlock opportunities and connect to global markets."
The bank has also made a number of other senior appointments:
Abdulaziz Abdulrahman A. Alshenaifi – Head of Markets
Abdullah AlToukhi – Head of Institutional Coverage
Susheel Jain – Chief Financial Officer
Abdulrahman Alanazi – Head of Compliance and Money Laundering Reporting Officer
The Saudi board is chaired by Mohammed Al-Sarhan as Independent Non-Executive Chairman, an appointment made in 2025. Talal AlKhereiji has joined the board as Independent Non-Executive Director.
The Riyadh opening completes a return that began publicly in October 2025, when Barclays disclosed it had secured a provisional CMA licence, had taken space in KAFD and intended to open a full office during 2026. The Regional Headquarters licence came earlier the same year.
