Barclays Opens New Saudi Office Despite Houthi Attacks
By Michael Hennessey
Barclays has opened a new office in Saudi Arabia, marking a return to the market for the first time in over a decade as the country faces mounting pressure from Houthi attacks.
The British bank said on Monday that the new office is in Riyadh's King Abdullah Financial District. It appointed Majed Al Hassoun as chief executive officer and head of investment banking for Barclays Capital Saudi.
Barclays received an operational license from the capital market authority to conduct investment banking and global markets activities in the kingdom last year, after receiving 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 into Saudi Arabia comes against a backdrop of attacks by Yemen's Houthi rebels that have disrupted life in the region. The Houthis have repeatedly targeted shipping in the Red Sea and Saudi airports, including striking Riyadh's King Khalid International Airport.
A projectile hit the Saudi Aramco tower in Riyadh's financial district on Sunday in a drone-and-missile attack launched by the Houthis, the Wall Street Journal reported, citing regional officials familiar with the matter.
Write to Michael Hennessey at michael.hennessey@wsj.com
(END) Dow Jones Newswires
November 09, 2026 04:33 ET (09:33 GMT)
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