Global asset management giant BlackRock starts with 20 employees in Riyadh

News agencies reported that BlackRock has hired 20 people in its office in Riyadh, and is the first global investment manager to open an office in Riyadh, in response to the facilities provided by the Saudi government to the regional offices of international companies.

BlackRock is the largest asset manager in the world, and is managed by Larry Fink. It is believed that the number of employees is the highest so far among companies that have opened regional headquarters in the Kingdom. (Bloomberg).

In November 2022, the Public Investment Fund announced the signing of a non-binding memorandum of understanding with BlackRock, the international company working in the field of investment, in order to consolidate the company’s infrastructure strategy in the Middle East region, and to establish a framework with the aim of cooperation to explore investment opportunities in infrastructure projects in the region. The Middle East, and investment activity focuses mainly on the Kingdom of Saudi Arabia. While BlackRock looks forward to supporting this initiative through its efforts to build a team specialized in infrastructure investments in Riyadh, so that its activities cover the Middle East region.