Riyadh – Sharikat Mubasher: State Street Corporation announced the official launch of its Middle East and North Africa Regional Headquarters (RHQ) in Riyadh, following approval from the Ministry of Investment, Saudi Arabia (MISA).

The Riyadh-based headquarters will serve as the strategic and administrative hub for State Street’s operations across MENA, hosting regional leadership and corporate functions, as per the company’s press release. The firm aims to enhance operational efficiency, foster innovation, and contribute to talent development within the Kingdom’s financial sector.

The move marks a major milestone in the company’s 25-year presence in the Kingdom, where it has expanded significantly since establishing local operations in 2020. State Street currently manages $60 billion in assets and oversees $127 billion in assets under custody and administration for clients in Saudi Arabia.

In 2024, State Street Saudi Arabia became the firm’s 11th global investment center, enabling it to manage institutional portfolios locally.

Oliver Berger, Head of Strategic Growth Markets, said the establishment of the RHQ “reflects our long-term commitment to the Kingdom” and aligns with Saudi Arabia’s Vision 2030 to transform its financial ecosystem.

Emmanuel Laurina, Head of Middle East, Africa & Official Institutions at State Street Investment Management, added that the new RHQ positions State Street “as a global leader in investment solutions and product innovation” in one of the world’s fastest-growing regions.