Morgan Stanley has received regulatory approval in Saudi Arabia to establish its Middle East headquarters in the Kingdom, joining its Wall Street competitors, including Citigroup and Goldman Sachs, in expanding their presence in the Kingdom.
Abdulaziz Al-Ajaji, CEO in the Kingdom and co-chairman of the bank in the Middle East and North Africa region, said in a statement on Sunday, “Establishing a regional headquarters in Riyadh reflects the growth and development of Saudi Arabia, and is a natural progression of our long history in the region.”
