A warm welcome to our new team and office in Riyadh, the capital city of Saudi Arabia. We are really excited to announce our entry into the Middle East - an area of strategic focus for us thanks to our growing client base and a significant increase in demand for equity compensation solutions from that region.
Abdulhadi Alherz, Global Shares' recently appointed Managing Director for the Middle East Region, said: "I'm delighted to spearhead the expansion of Global Shares in the Middle East with the support of all my amazing new colleagues, partners and team."
"We’ve recruited 20 Arabic speaking staff, set up a new Arabic service desk, rolled out an Arabic language version of our online portal and mobile app. In addition we've contracted a new banking partner, NCB Capital.
He added "The arrival of a global fintech leader in the employee ownership sector is great news for Saudi Arabia, and it's also exciting for Global Shares. Saudi Arabia has a large, strong economy with a population of 33.7 Million and GDP of $790,000,000,000. Our country is highly diverse: 32% of the population is made up of expats and 66% of the population is youthful, both of which will help from a share plans long term incentive plans perspective".
Our market entry into Saudi Arabia makes us the only provider of share plan solutions for the Middle East region and we're looking forward to exploring all the opportunities ahead.
Looking ahead, 2021 will be a very busy year for the Middle East team, with ongoing recruitment, training, onboarding new clients and strategic partnerships.
Global Shares new office is located at Prince Mohammad bin Salman road, Riyadh.
Should you wish to contact Abdulhadi Alherz in relation to this announcement you can reach him at AAlherz@globalshares.com