Zurich: Credit Suisse has opened a Credit Suisse AG branch in Riyadh, strengthening its Saudi Arabia franchise, further growing its footprint in the Middle East and providing enhanced banking and financial solutions capabilities for clients locally.
The new branch will allow Saudi Arabian clients to benefit from an extended wealth management offering which is comprised of lending services, foreign exchange and treasury products, account management and deposits. Clients will continue to be able to access the existing range of local and international trading capabilities as well as investment banking services.
Majid A. Al-Gwaiz will act as CEO of the Riyadh Branch and will be responsible for driving the strategy, building upon business area initiatives and developing local solutions to serve high-net-worth and ultra-high-net-worth clients, family owned companies, government and government-related entities and Saudi corporations. Mr. Al-Gwaiz, who reports to Bruno Daher, CEO of Middle East and North Africa at Credit Suisse, joined Credit Suisse in July 2020.
Bruno Daher, CEO of Middle East and North Africa at Credit Suisse, said: “I am excited to begin this new and important chapter in Saudi Arabia as we expand in this key growth market and invest in ways to better serve our clients in the region. Under Majid’s leadership, we look forward to building on and enhancing our current market position while providing an integrated banking experience for our high net worth individuals and institutional clients in Saudi Arabia.”
Credit Suisse has had a presence in the Middle East since 1967 and has been operating in Saudi Arabia since 2005. This latest development is a natural progression to further build the local footprint and reflects Credit Suisse’s growth ambitions in the region. The new offering has been granted through the local Saudi Central Bank (SAMA).
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
