Saudi Arabia Pushes for International Financial Firms to Set Up Shop in Riyadh
Saudi Arabia is actively seeking to attract international financial firms to establish regional headquarters in Riyadh, with the country’s wealth fund now inquiring about licenses. The pressure is mounting for banks to comply, as seen with Goldman Sachs Group Inc. obtaining a regional headquarters license. This move is prompting other financial players to reconsider their strategies in Saudi Arabia, with the Public Investment Fund now including license inquiries in its procurement process. While the impact of these requirements on business opportunities remains to be seen, major players like JPMorgan Chase & Co. and Citigroup Inc. are keen to maintain their presence in the lucrative Saudi market.
Deutsche Bank CEO Christian Sewing’s Unassuming Leadership Style Making Waves
Deutsche Bank CEO Christian Sewing is making waves with his unassuming leadership style, prioritizing corporate banking and local clients. His approach has seen a shift towards automated tax reports and a hands-on presence at local events, showcasing a departure from the traditional image of a banking CEO. Key appointments like Fabrizio Campelli and Rebecca Short reflect Sewing’s methodical and cost-focused strategies, contributing to a more collaborative and focused culture within the organization.