Goldman Sachs Establishes Riyadh Headquarter
Goldman currently has offices in Doha, Riyadh, and Dubai.
Goldman Sachs Group Inc. has become the first Wall Street bank to abide by Saudi Arabia's order for foreign companies to establish their Middle Eastern presence there.[1]
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The investment bank was recently granted permission by the kingdom's Ministry of Investment to establish its regional headquarters in Riyadh. How many employees will relocate to Saudi Arabia and what percentage of Goldman's regional operations would eventually be headquartered there were not immediately known.
Goldman currently has offices in Doha, Riyadh, and Dubai.
In April, the International Monetary Fund inaugurated a new regional office in Saudi Arabia’s capital, Riyadh.
The deadline for international firms to establish regional headquarters (RHQ) in Saudi Arabia or risk losing hundreds of billions of dollars in government contracts came into force on January 1st.