RIYADH, 22 October 2025 – Goldman Sachs has launched an onshore private wealth management business in Riyadh, Saudi Arabia. This will allow the firm to offer high level of service and investment performance for ultra wealthy individuals in the region.
The unit will follow the “One Goldman Sachs” model which sees collaboration with regional peers from the Asset Management and Global Banking and Markets for optimal investment delivery across public and private asset classes.
“We are delighted to expand our commitment to Saudi Arabia by launching an onshore presence in Riyadh,” said Rob Mullane, co-Head of Private Wealth Management for EMEA at Goldman Sachs.
“Saudi Arabia has an exceptionally dynamic economy and a highly sophisticated investor base. Our aim is to deliver access for regional clients to Goldman Sachs’ leading Private Wealth Management business, opening up local and global investment opportunities, and contributing to the local financial industry,” he added.
As part of the business growth, the firm has relocated Private Wealth Advisors Yousef Alhozaimy and Khalid Soufi to its Riyadh office. Goldman Sachs first opened its doors in Riyadh in 2008, and the company will continue increasing its headcount and expanding its presence in the Middle East.
Goldman Sachs Private Wealth Management is a specialist in wealth management plans for ultra high net worth individuals and families, and for select institutions such as foundations and endowments. As of 30 September 2025, the business recorded US$1.8 trillion of client assets under its supervision.
