Societe Generale announces the appointment of Antoine Toussaint as chief country officer and CEO of Societe Generale SAR, its CMA licensed subsidiary in Saudi Arabia. This appointment is effective as of Sept. 17.
Based in Riyadh, Antoine reports to Richad Soundardjee, Societe Generale’s CEO in the Middle East.
“The appointment of a new chief country officer and CEO in Saudi Arabia is another milestone in adapting our regional setup to the growth plan we are executing in the Middle East,” said Soundardjee.
“Antoine has created and developed the bank’s franchises in several countries, and his international and business development experience is a great asset as we expand our activities in the Arab world’s largest economy.”
Societe Generale has had a subsidiary in Saudi Arabia since 2010. The entity of the group in the Kingdom offers services under the arranging and advising licenses granted by the Capital Market Authority.
Antoine has been working for Societe Generale for more than two decades. He has held various senior positions in France, Lebanon and Serbia and was most recently Group Country Head & CEO in Bulgaria. Antoine holds a Masters degree from Institut de Preparation a l’Administration et la Gestion (IPAG – Paris).
Societe Generale names new chief for Saudi unit
Societe Generale names new chief for Saudi unit
SVC invests $1.2bn and contributes to Kingdom’s pole position in VC funding
Saudi Venture Capital Company (SVC) released its annual “Impact Report,” which highlighted SVC’s role in the record growth rates achieved by the Saudi private capital ecosystem in 2025.
The report emphasized SVC’s impact on the Kingdom's private capital ecosystem (Venture Capital, Private Equity, Venture Debt, and Private Debt) since the company’s establishment in 2018.
The report showed that SVC's total committed investments since its inception have reached $1.2 billion, while its investments have stimulated partner commitments totaling $5.9 billion, or 4.9 times SVC’s commitment. This highlights SVC’s role as a key catalyst and market maker in the private capital ecosystem.
The report indicated that the number of funds backed by SVC increased to 65, while the number of startups and SMEs supported exceeded 1,000 across several vital sectors, including e-commerce, fintech, healthcare, education technologies, transport, and logistics.
Commenting on the report, Nora Alsarhan, Deputy CEO and Chief Investment Officer at SVC, said: “The report highlights the transformative progress happening across Saudi Arabia’s private capital ecosystem as a direct result of the initiatives and goals of the Saudi Vision 2030.”
She added: “We remain committed to developing investment programs, products, and developmental initiatives based on market needs analysis and aligned with leading global models, which enhance the competitiveness of the Saudi private capital ecosystem, support diversification of the national economy, and help achieve the goals of the Saudi Vision 2030.”
The report showed that SVC’s strategy contributed to the Kingdom’s maintaining its first rank in the MENA region for the third straight year in VC funding in 2025, reaching a historic total of $1.7 billion. This reflects the growth seen across various economic and financial sectors under Saudi Vision 2030, which aims to strengthen the national economy.
The report indicated that the number of venture capital investors has increased sixfold since SVC was founded in 2018, when the number did not exceed 34, reaching 200 in 2025. This reflects the depth of the market and the expansion of the institutional investor base in Saudi Arabia.
The report also highlighted the launch of the inaugural Private Capital Forum, a regional platform to advance dialogue on private capital. The forum brought together 1,070 participants and 59 speakers across 20 sessions, reaching 7.2 million people digitally and generating over 10.5 million media impressions.
