Barclays strengthens Middle East presence with strategic expansion into the Kingdom of Saudi Arabia

Mohammed Al-Sarhan will join as Independent Non-Executive Chairman of the Board for Barclays’ Saudi Arabia franchise. Mr. Al-Sarhan brings a wealth of experience and deep client relationships in the Kingdom. Previously Mr. Al-Sarhan served in prominent roles with Al Safi Danone, Al Faisaliah Group, IKEA and Bahri.

Barclays is set to open an office next year in Riyadh, enabling the KSA team to deepen client coverage by being closer to its key corporate, institutional and sovereign wealth fund clients. Through its presence, Barclays will bring its global network and comprehensive suite of products to support the Kingdom’s ambitious transformation into a leading global investment hub.

Earlier this year, the bank received its Regional Headquarters (RHQ) licence. Barclays’ expansion into KSA advances the bank’s strategic growth across the Middle East and strengthens its existing presence in the Gulf Cooperation Council, where it already operates in the UAE and Qatar. The bank’s Middle East franchise is led by Khaled El Dabag and Walid Mezher as Co-CEOs who have a wealth of Investment Banking and Capital Markets experience and strong client relationships in the region.