Riyadh hosts the regional headquarters of one of the three oldest American banks

Bank of New York Mellon, which has been licensed to establish a regional headquarters in the Kingdom, is one of the oldest American banks, with assets under management estimated at $416 billion.

Founded in 1784, Bank of New York Mellon is one of the oldest banks in the world and the oldest financial services company operating continuously from New York City, with over two centuries of experience in asset management and financial services.

It is noteworthy that the number of international companies establishing regional headquarters in the Kingdom reached approximately 571 by the end of 2024, exceeding the target of 500 companies for 2030. Data obtained by (Maal) from the Ministry of Investment shows an increase in the number of international companies hosting headquarters in Saudi Arabia, which jumped to 280 in 2023, representing an increase of 199 companies, representing a 246% increase. In 2024, the number continued to rise, doubling to 571 companies, an increase of 291 companies and a rate of more than 100%. Consequently, the number has doubled sixfold in the past three years, a jump of 600%. This comes at a time when ambitions and new horizons are growing to achieve greater strides following the Kingdom’s winning the bid to host the 2034 FIFA World Cup and Expo 2030.

The fact that the number of international companies that have adopted Saudi Arabia as their regional headquarters has reached 571 confirms the great success of the program, which was established in 2021. The program offers a range of incentives, including incentives to attract global talent, tax incentives, and other incentives.