Citigroup Saudi Arabia held lately its inaugural board meeting in Riyadh, ushering in a new era for Citi in the Kingdom, and setting the stage for the global bank to deploy its suite of corporate products on the ground to help support Saudi Arabia\u2019s economic transformation.<\/p>\n\n\n\n
In April 2017, The Saudi Arabian Capital Market Authority (CMA) granted Citi a license to provide a range of Investment Banking, Debt and Equity Capital Markets, Markets, and Securities Research capabilities to its local and international institutional clients. This was followed by the Saudi Arabian General Investment Authority\u2019s investment license in May 2017, and most recently by CMA\u2019s Commencement Letter.<\/p>\n\n\n\n
“Saudi Arabia is a regional economic leader and a strategically important market for Citi,\u201d said Mike Corbat, Citi\u2019s CEO. Mr. Corbat actively participated in the Saudi-US CEO Forum 2017 held in Riyadh during May 2017 and led key discussions at the Privatization & Reform Roundtable, one of the Forum\u2019s four concurrent roundtables, which had participation by US and Saudi CEOs. \u201cWe are excited by the Kingdom\u2019s Vision 2030 to create a more diverse and sustainable economy, and we look forward to putting Citi\u2019s global banking capabilities to work in service of this economic transformation.\u201d<\/p>\n\n\n\n
The board is comprised of Citi senior executives and independent directors and will be responsible for overseeing business strategy and governance for Citigroup Saudi Arabia. \u201cToday\u2019s board meeting is a culmination of efforts to re-establish an onshore operation serving our client base,\u201d said Carmen Haddad, Citi Country Officer-Saudi Arabia, and Vice Chairperson-Citigroup Saudi Arabia. \u201cWe are grateful to our regulators and partners for their support, and we look forward to being part of the transformational journey under Vision 2030.\u201d<\/p>\n\n\n\n
Citi has been present in the Arab world since 1955 and offers full-scale corporate and investment banking services. Citi’s institutional capabilities in the region include Treasury & Trade Solutions, Corporate & Investment Banking, Markets & Securities Services, and Capital Markets Origination.
Photo Caption: Mike Corbat, Citi CEO, pausing with the SAGIA Investment Licence, flanked by Atiq Rehman and Carmen Haddad.<\/p>\n","protected":false},"excerpt":{"rendered":"
Citigroup Saudi Arabia held lately its inaugural board meeting in Riyadh, ushering in a new era for Citi in the Kingdom, and setting the stage for the global bank to deploy its suite of corporate products on the ground to help support Saudi Arabia\u2019s economic transformation. In April 2017, The Saudi Arabian Capital Market Authority […]<\/p>\n","protected":false},"author":2,"featured_media":7355,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"1","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"1","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-7356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n