NEW YORK/RIYADH: Saudi Arabia’s position as a preferred destination for global investors was the main driver behind S&P Global’s decision to open its regional headquarters in Riyadh this week, according to the Kingdom’s investment minister.
The move highlights the Kingdom’s growing significance in international capital markets and aligns with its broader economic transformation under Vision 2030, the corporation added.
“Establishing our Saudi Arabia regional headquarters in Riyadh is an important milestone for S&P Global’s growth and part of our long-term strategic commitment to investing in the region,” said Martina Cheung, president and CEO of S&P Global.
“With our expanded presence and dedicated leadership team, we are well positioned to better serve our clients, expand strategic partnerships, and power global markets,” she added.
Saudi Arabia’s Minister of Investment Khalid Al-Falih welcomed the decision, emphasizing the Kingdom’s increasing appeal to global firms.
“The decision to establish a regional headquarter in Riyadh by S&P Global signifies the growing prominence of Saudi Arabia as a preferred destination for investors seeking to mobilize and invest capital,” he said.
“This will assist in deepening the level of expertise within the market and improving the services accessible to the broad range of international investors operating in the Kingdom, totaling around 40,000, of which 590 have been licensed to date to open a regional headquarter office.”
The new RHQ builds on S&P Global’s existing presence in Saudi Arabia, following the opening of its Riyadh branch in 2017, when it became the first international credit rating agency to secure pre-approval from the Saudi Capital Market Authority.
The move comes at a time of rapid economic diversification in Saudi Arabia, as the government continues to implement reforms aimed at fostering private sector growth, attracting foreign investment, and enhancing the financial ecosystem.
S&P Global’s expanded presence will include representatives from all divisions of the company.
