Barclays to Launch Riyadh Operations in 2026, Advancing Vision 2030 Growth and Regional Investment Banking Capabilities

Barclays to Launch Riyadh Operations in 2026, Advancing Vision 2030 Growth and Regional Investment Banking Capabilities

(IN BRIEF) Barclays PLC has received a provisional Capital Market Authority (CMA) licence, secured premises in King Abdullah Financial District, and will open a new office in Riyadh in 2026 as part of its Middle East expansion. The bank plans to launch Investment Banking and Global Markets activities in Saudi Arabia once the licence is finalized. Group CEO C.S. Venkatakrishnan highlighted the move as key to supporting Saudi Arabia’s Vision 2030. Mohammed Al-Sarhan has been appointed Independent Non-Executive Chairman of the Board for Barclays Saudi Arabia, bringing extensive corporate experience from leading regional firms. Co-CEOs Khaled El Dabag and Walid Mezher continue to lead Barclays’ Middle East franchise. With its RHQ licence and upcoming Riyadh office, Barclays aims to strengthen relationships with corporate, institutional, and sovereign clients, extending its global investment expertise across the Kingdom and the wider GCC.

(PRESS RELEASE) RIYADH, 27-Oct-2025 — /EuropaWire/ — Barclays PLC has announced a major expansion in Saudi Arabia as part of its broader Middle East growth strategy, following the receipt of a provisional Capital Market Authority (CMA) licence. The move marks a significant step toward establishing Investment Banking and Global Markets operations in the Kingdom once the licence becomes fully active. The bank has also secured premises in King Abdullah Financial District (KAFD) and plans to open its new Riyadh office in 2026, further deepening its presence in the region.

The expansion reinforces Barclays’ long-term commitment to supporting Saudi Arabia’s Vision 2030, which aims to transform the Kingdom into a global investment powerhouse. C.S. Venkatakrishnan, Group Chief Executive of Barclays, said: “Saudi Arabia is central to our Middle East growth strategy, and we are very excited to support the Kingdom’s transformation under Vision 2030. Expanding our presence here represents an important milestone as we continue to strengthen our regional footprint and help clients access capital, innovate, and grow in this dynamic market.”

As part of the expansion, Mohammed Al-Sarhan has been appointed Independent Non-Executive Chairman of the Board for Barclays Saudi Arabia. Mr. Al-Sarhan brings decades of leadership experience from prominent Saudi organizations, including Al Safi Danone, Al Faisaliah Group, IKEA, and Bahri, and is expected to play a key role in guiding Barclays’ growth and client engagement in the Kingdom.

The bank’s Middle East franchise continues to be led by Khaled El Dabag and Walid Mezher as Co-CEOs, who bring extensive investment banking experience and deep client relationships across the region. Earlier this year, Barclays received its Regional Headquarters (RHQ) licence, further solidifying its long-term presence in the Gulf Cooperation Council (GCC).

Barclays’ new Riyadh office will enable closer collaboration with key corporate, institutional, and sovereign wealth fund clients while expanding its ability to deliver comprehensive financial services through its International Corporate Bank. Leveraging its extensive global network, Barclays aims to provide clients in Saudi Arabia with access to world-class investment banking, advisory, and capital market expertise.

Commenting on his appointment, Mr. Al-Sarhan stated: “I am honoured to join Barclays during such an exciting phase of growth in the Kingdom. It is a privilege to work alongside Khaled El Dabag and Walid Mezher—two exceptional leaders with a deep commitment to the region. Together, we aim to create meaningful impact for our clients and contribute to Saudi Arabia’s ambitious transformation journey.”

Barclays’ expansion into Saudi Arabia enhances its strategic footprint across the Middle East, adding to its operations in the UAE and Qatar. The bank’s global capabilities, rooted in its strong UK heritage, position it among the few non-U.S. investment banks offering integrated cross-border solutions that cater to the diverse financial needs of clients across the region.

-ENDS-

Notes for editors

About Barclays

Our vision is to be the UK-centred leader in global finance. We are a diversified bank with comprehensive UK consumer, corporate and wealth and private banking franchises, a leading investment bank and a strong, specialist US consumer bank. Through these five divisions, we are working together for a better financial future for our customers, clients, and communities.

For further information about Barclays, please visit https://home.barclays/

About Barclays in the Middle East and North Africa

Barclays has been present in the Middle East and North Africa (MENA) region for over 150 years, offering best-in class products and services to corporate, institutional, and private wealth clients across the Kingdom of Saudi Arabia, United Arab Emirates, Qatar and beyond. Through its Investment Bank and Private Banking & Wealth Management, Barclays provides integrated capabilities and strong cross-border expertise, leveraging its global footprint to connect the region’s clients to opportunities across the world.  

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Email: ukpressoffice@barclays.com

SOURCE: Barclays