State Street Corporation has announced the opening of its first Saudi Arabian office, State Street Saudi Arabia Financial Solutions Company, located in Riyadh. The firm’s new office in the Kingdom, providing both institutional services and asset management, will strengthen its current service offering for official institutions and institutional investors in the Middle East.
“Saudi Arabia itself is a strategically important country for State Street,” said Jörg Ambrosius, head of Europe, Middle East and Africa. “Having an office here is absolutely vital for us to fulfill our ambitious growth plans for the region. We are strong supporters of Prince Mohammed bin Salman’s Vision 2030 strategy, with one of its pillars being that the Kingdom becomes a global investment powerhouse. Our presence will mean that State Street Saudi Arabia will help organizations navigate an increasingly complex global financial arena.”
State Street Saudi Arabia has appointed Abdullah Saleh Bakhrebah as chief executive and managing director.
State Street Corporation is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading, with $33.52 trillion in assets under custody and/or administration and $3.05 trillion in assets under management.
