Barclays Opens Riyadh Office as Houthi Attacks Continue

The office is in Riyadh’s King Abdullah Financial District. Barclays appointed Majed Al Hassoun chief executive officer and head of investment banking for Barclays Capital Saudi.

The bank said it received an operational license from Saudi Arabia’s Capital Market Authority last year to conduct investment banking and global markets activities. That followed a regional headquarters license.

“By investing in regional talent, we continue to deepen our presence and reaffirm our commitment to Saudi Arabia’s future,” Barclays CEO C. S. Venkatakrishnan said.

The expansion comes amid Houthi attacks that have disrupted life in the region. The group has repeatedly targeted shipping in the Red Sea and Saudi airports, including Riyadh’s King Khalid International Airport. The Wall Street Journal reported that a projectile struck the Saudi Aramco tower in Riyadh’s financial district on Sunday during a drone-and-missile attack launched by the Houthis, citing regional officials familiar with the matter.