Citi CEO Jane Fraser Inaugurates New Regional Headquarters in Saudi Arabia and Launches Future-Ready Youth Employment Program in MENA
Citi announced the official opening of its new Regional Headquarters (RHQ) in Riyadh, Saudi Arabia, located at Kingdom Tower, marking a significant milestone in the bank’s regional expansion strategy and its long-term commitment to the Middle East and North Africa (MENA) region.
The ribbon-cutting ceremony was attended by His Excellency Eng. Khalid A. Al-Falih, Minister of Investment, and H.E. Eng. Ibrahim Al-Mubarak, Assistant Minister of Investment, alongside Jane Fraser, Chair of the Board and Chief Executive Officer of Citi, Naveed Kamal, CEO of Citicorp Regional HQ, and Fahad Aldeweesh, Citi Country Officer and Banking Head of Saudi Arabia.
Citi officially received its Regional Headquarters license in November 2024 from the Ministry of Investment and Ministry of Commerce, in alignment with Saudi Arabia’s national initiative encouraging multinational companies to establish regional headquarters in the Kingdom.
> “The Middle East is one of the most dynamic regions in the world, and Saudi Arabia sits at the heart of that transformation,” said Jane Fraser, Chair of the Board and Chief Executive Officer of Citi. “Establishing a regional headquarters here in Riyadh reflects both our confidence in the Kingdom’s momentum and our commitment to being close to the clients driving that change.”
The new RHQ will provide strategic oversight and management functions for Citi’s operations across the MENA region, strengthening the bank’s ability to serve clients, foster innovation, and support regional growth.
Earlier this year, Naveed Kamal was appointed as the CEO of Citi’s new legal entity in Saudi Arabia, responsible for overseeing Citi’s growing presence and ensuring alignment with the Kingdom’s Vision 2030 economic transformation goals.
Citi Foundation Launches $500,000 “Future-Ready Youth Employment and Skills Program” in MENA
During the inauguration ceremony, the Citi Foundation announced a $500,000 grant to Education for Employment (EFE), a leading regional nonprofit dedicated to youth employability. The funding supports the expansion of EFE’s “Future-Ready Youth Employment and Skills Program” across five MENA countries — Saudi Arabia, Algeria, Morocco, Tunisia, and the UAE.
The initiative will equip more than 700 youth with job-readiness, digital, and green skills, and aims to connect at least 280 graduates directly to employment opportunities upon program completion.
> “This new Citi Foundation grant to support EFE’s programming is a testament to over a decade of collaboration and commitment to closing the skills gap across MENA for low-income youth,” said Fahad Aldeweesh, Citi Country Officer and Banking Head of Saudi Arabia. “It directly addresses the urgent demand for future-proof talent by empowering youth with digital and green capabilities vital for navigating the region’s economic and environmental transitions.”
Andrew Baird, President and CEO of EFE-Global, emphasized the strategic importance of this collaboration:
> “Citi Foundation’s support enables us to expand our proven model, equipping young people with the digital and green skills defining the future of work. We’re not just providing training; we’re fostering environmental awareness, promoting sustainable practices, and creating pathways to employment in sectors critical for the region’s economic resilience.”
Through its new headquarters and regional youth initiatives, Citi reinforces its dual commitment — to supporting the economic transformation of Saudi Arabia and to empowering young talent across MENA to thrive in a rapidly evolving, sustainable future.