Credit Suisse is bolstering its Saudi operations with the opening of a wealth management branch in Riyadh.
The move is designed to target high net worth clients, family offices and government entities by offering local services in addition to international trading capabilities, according to the Swiss firm.
The Riyadh branch will be managed by Majid Al-Gwaiz, chief executive of Credit Suisse’s commercial banking activity in Saudi Arabia.
Al-Gwaiz joined the firm in June 2020 and will report to Bruno Daher, Mena chief executive at Credit Suisse.
Daher said that the firm is looking to “expand in this key growth market” and to provide “an integrated banking experience for our high net worth individuals and institutional clients in Saudi Arabia”.
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