Goldman Sachs has announced the official opening of its new office and regional headquarters in Riyadh, Kingdom of Saudi Arabia. 

Located in the King Abdullah Financial District (KAFD), the new office reflects the firm’s ongoing commitment to Saudi Arabia and gives Goldman Sachs the capacity to grow its presence in the Kingdom. 

A leading global financial institution, the Goldman Sachs Group delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. 

Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centres around the world. Goldman Sachs has had a presence in Saudi Arabia since 2008.

By launching its new base in KAFD, Goldman Sachs benefits from and strengthens KAFD’s thriving business ecosystem.

KAFD has grown to become Saudi Arabia’s leading business and lifestyle district. The vibrant mixed-use district, which encompasses commercial, retail, residential and hospitality offerings, is home to over 140 prestigious global and local corporations and 19 regional headquarters, placing it at the heart of Saudi Arabia’s economic transformation in line with Vision 2030. 

The opening ceremony was attended by Zaid Khaldi, CEO of Goldman Sachs for the Middle East & North Africa (MENA); Mahesh Saireddy, global co-head of the Capital Solutions Group; Anthony Gutman, co-CEO of Goldman Sachs International and global co-head of Investment Banking; Omar Alzaim, CEO and head of Investment Banking for Goldman Sachs Saudi Arabia.

Speaking on the occasion, Gutman said: "The opening of this new office underscores our belief in Saudi Arabia's transformative journey under Vision 2030 and its rapidly evolving economy. We are committed to contributing to Saudi Arabia's economic transformation efforts, by continuing our role as an enabler of the import of world-class expertise, human capital and financial capital that meet the evolving needs of the Saudi market."

Alzaim said: "This is an important milestone for Goldman Sachs in Saudi Arabia where we continue to expand our local presence since our establishment in 2008."

"Today's opening of our new office underscores our unwavering commitment to Saudi Arabia, our ambitious growth plans, and the considerable opportunities we see for doing business within the Kingdom in our four main businesses of investment banking, markets, asset and wealth management," he stated.

Sultan Alobaida, the Chief Commercial Officer of King Abdullah Financial District Development and Management Company, said: "We are excited to welcome Goldman Sachs to KAFD as we expand our community of prestigious global and local institutions."

"As the business spine of the Kingdom, KAFD continues to be a leading destination for businesses establishing regional headquarters in Saudi Arabia, shaping a world-class business ecosystem aligned with Saudi Vision 2030," he added.-TradeArabia News Service