RIYADH: J.P. Morgan, which has been serving clients in Saudi Arabia for over three quarters of a century, on Sunday night celebrated the official opening of its office in Riyadh, further enhancing the reach and capabilities of its successful investment banking franchise in the Kingdom.
At the opening event which was attended by over 170 of J.P. Morgan’s clients in the region, Jamie Dimon, chairman and CEO of J.P. Morgan Chase, said: “We are delighted to be celebrating J.P. Morgan’s long standing history of serving clients in Saudi Arabia, which dates back to the 1930s. We are currently one of only a handful of global banks with a banking and securities license in the Kingdom and our business has grown organically over many years.”
Ghassan Abdul Karim, CEO of the Middle East and North Africa at J.P. Morgan, said: “We will continue to invest in Saudi Arabia and the wider region where we anticipate significant growth opportunities, and remain committed to offering our clients world-class investment banking services.”
Mohammad Al-Tuwaijri, senior country officer for J.P. Morgan in Saudi Arabia and head of its subsidiary in Riyadh, said: “We have a tremendous heritage in Saudi Arabia and our strong local presence combined with our international product and industry expertise are essential to our client offering.”
J.P. Morgan’s relationship with Saudi Arabia dates back to the forging of the Saudi Kingdom in the early 1930s.