State Street and Albilad Capital have signed a strategic agreement to strengthen Saudi financial collaboration and advance investment services across the Kingdom. Consequently, the partnership merges global expertise with local market insight.
Through this agreement, State Street will support Albilad Capital’s securities services offering. In addition, both firms aim to modernize the Kingdom’s financial markets. This move aligns with Vision 2030, which focuses on diversifying and enhancing Saudi Arabia’s economy.
Ron O’Hanley, CEO of State Street, explained that the agreement shows a long-term commitment to the Kingdom. Furthermore, he noted that combining global solutions with local expertise will address growing demand for sophisticated investment options.
Similarly, Zaid AlMufarih, CEO of Albilad Capital, emphasized that the partnership will enhance competitiveness and foster innovation. He added that transferring global knowledge will support the development of Saudi financial infrastructure.
State Street has served clients in Saudi Arabia for over 25 years. Moreover, the firm established local operations in 2020. Currently, it manages $127 billion in assets under custody and administration and $60 billion in assets under management within the Kingdom.
Oliver Berger, Head of Strategic Growth Markets at State Street, stated that this initial agreement represents the start of a long-term strategic relationship. Additionally, future plans include expanding investment services, increasing capital market efficiency, and facilitating foreign direct investment.
Albilad Capital, the investment arm of Bank Albilad, was founded in 2008. In addition, it manages over $50 billion in assets under custody and administration. The firm offers brokerage, asset management, investment banking, custody, and Sharia-compliant advisory services.
The signing ceremony took place in Riyadh on October 29, 2025. Attending executives and senior dignitaries highlighted the strategic importance of the collaboration. Furthermore, the event underscored both firms’ commitment to long-term growth in Saudi markets.
This partnership is expected to strengthen Saudi financial collaboration by introducing advanced technologies, improving operational efficiency, and expanding investment opportunities. Moreover, leveraging Exchange Traded Fund (ETF) capabilities will attract international investors, thereby boosting capital market growth.
Finally, the collaboration reflects a shared vision for innovation, operational excellence, and global best practices. Together, State Street and Albilad Capital aim to position Saudi Arabia as a leading regional financial hub while supporting sustainable market development.
