Societe Generale : eyes Saudi expansion in 2018
Societe Generale eyes Saudi expansion in 2018
Riyadh — Mubasher: Societe Generale expects to grow its business in the Middle East , especially Saudi Arabia during 2018, the bank’s CEO for the Middle East Richad Soundardjee said.
The kingdom is attracting large investments after implementing economic reforms that were carried out by Saudi Crown
Mohammed bin Salman
. These reforms include selling some government assets, launching the largest global sovereign wealth fund, and launching global bond issues.
“We have reached a level of dialogue with the Saudi government that allows us to be more optimistic for the future,” Soundardjee told Bloomberg TV.
The French-based bank will announce six job opportunities in fixed income, export finance, and structured finance in the Middle East during the coming period.
On Monday, Societe Generale provided four job opportunities in its branch in Dubai after appointing Wassim Kesrouani as fixed income and currencies sales specialist, while Rishmein Vallimamode was appointed as corporate derivatives sales specialist.
The bank also said in a statement that
will lead public sector coverage focusing on the bank’s relationships with governments, central banks and sovereign wealth funds, whereas
becomes head of family offices and holdings coverage.
“Saudi is the next big thing for us, so you will see us much more around very large Saudi Arabia transactions this year,” Soundardjee highlighted.