Rothschild, one of the oldest banks in the world, opens a new office in Saudi Arabia

Rothschild announced its intention to increase its operations in Saudi Arabia by hiring or transferring bankers while establishing a new office in the financial center in Riyadh.

The Paris-based bank said that it will expand to the King Abdullah Financial District, to which many local and foreign institutions and companies have recently moved.

She indicated that Nasser Al-Issa, Managing Director and Head of the Saudi Department, who was appointed by the bank in 2022, will lead the new office.

Saeed Al Awar, Partner and Head of the Middle East Department at Rothschild, said that he will have a total of 7 bankers there with the aim of doubling his size in the medium term.

He added: “Localizing the presence is a key strategy for us, and therefore we look forward to continuing to strengthen our local presence on the ground in the Kingdom.” He added: “The seven people we have will live in Riyadh and reside permanently outside the Kingdom,” saying that proximity to customers was among the main reasons for the bank’s decision.

Rothschild, one of the world’s oldest banks, said it would offer its usual range of products in Saudi Arabia, including advising on mergers and acquisitions, restructuring and stock market solutions.