"because you're making fairly large commitments financially and otherwise, and you need to work with partners whom you can trust and who are there for the long term and who will help you through the teething troubles."
"People have seen that the kingdom is a long-term partner. We're not transactional."
Barclays is re-entering Saudi Arabia after exiting in 2014, securing an investment banking license and planning offices in Riyadh by early 2026. The bank will establish a new regional headquarters that Saudi authorities will recognize imminently. Barclays' CEO emphasized the importance of trusted, long-term partners when making substantial financial commitments. Investment leadership described the kingdom as a long-term, non-transactional partner. The move aligns with Saudi Vision 2030 efforts to diversify the economy, attract multinational headquarters, and position Riyadh as a regional corporate and financial hub alongside other global banks deepening Gulf ties.
Read at Fortune
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