State Street opens regional HQ in Riyadh

Logo of State Street Corporation

State Street Corporation, a US-based financial services company listed on the New York Stock Exchange (NYSE), announced the official launch of its regional headquarters for the MENA region following approval from the Saudi Ministry of Investment.

The regional headquarters will serve as a center for strategic direction and administration for State Street’s activities across the MENA region. It will also host State Street’s regional senior leadership and corporate functions, and act as a center for innovation and collaboration.

State Street has been operating in Saudi Arabia since 2020 under a license from the Capital Market Authority (CMA). It manages over $127 billion in assets under custody and/or administration, while assets under management (AUM) for clients in the Kingdom have grown to $60 billion.

In 2024, the company’s Saudi office became its 11th investment center, enabling it to manage institutional investor portfolios locally.

The number of global companies licensed to establish their regional headquarters in Riyadh has reached 675, Argaam reported, quoting Saudi Minister of Investment Khalid Al-Falih.