Goldman Sachs Launches Onshore Private Wealth Management in Saudi Arabia Riyadh, Opened Office in Riyadh in 2008, Executive Director Yousef Alhozaimy Relocated from UAE Dubai to Riyadh in 2024 & Transferred from Global Banking & Markets to Asset & Wealth Management in 2025 May, Executive Director Khalid Soufi Transferred from UAE Dubai to Riyadh in 2025 May, Goldman Sachs Private Wealth Management Reports $1.8 Trillion Assets under Supervision in 2025 September
23rd October | Hong Kong
Goldman Sachs has launched onshore Private Wealth Management in Saudi Arabia Riyadh, having opened the Goldman Sachs office in Riyadh in 2008. Goldman Sachs Executive Director Yousef Alhozaimy had relocated from UAE Dubai to Riyadh in 2024, and transferred from Goldman Sachs Global Banking & Markets to Asset & Wealth Management in 2025 May. Goldman Sachs Executive Director Khalid Soufi had also transferred from UAE Dubai to Riyadh, in 2025 May. In 2025 September, Goldman Sachs Private Wealth Management reported $1.8 trillion Assets under Supervision. Announcement (21/10/25): “ Goldman Sachs today announced a key milestone in its continued growth in the Middle East by launching the first stage of an onshore Private Wealth Management presence in Riyadh, Saudi Arabia, complementing the firm’s longstanding capabilities to serve Middle East wealth management clients. The offering extends the capabilities of Goldman Sachs’ Riyadh office, which was established in 2008. Private Wealth Management is a strategic focus for Goldman Sachs and the firm has ambitions to significantly scale its offering to clients in the Middle East and globally, continuing to provide a leading level of service and investment performance. The business will leverage the firm’s “One Goldman Sachs” approach, working in partnership with Asset Management and Global Banking and Markets colleagues in the region to bring the best of Goldman Sachs to clients in an integrated manner. Goldman Sachs sees exciting opportunities to partner with clients in Saudi Arabia, where it will offer a range of investment choices across public and private asset classes. The region benefits from a unique concentration of Ultra High Net Worth individuals and growing diversification of the economy. Supporting the expansion, the firm has transferred Yousef Alhozaimy and Khalid Soufi as Private Wealth Advisors to be based in Riyadh. The firm plans to continue increasing its presence in the Middle East and is actively hiring for Private Wealth Advisors and other positions.” In 2025 October, Goldman Sachs opened a new office in Kuwait, and hired Kuwait $134 billion pension fund (PIFSS, Public Institution for Social Security) Mohammad Almatrouk as Managing Director to lead Goldman Sachs Kuwait office and had hired Credit Suisse 11-year private banking veteran Fahad Alebrahim as Managing Director for Goldman Sachs Private Wealth Management in 2024. Kuwait GDP is at around $160 billion in 2024, and has around 4.9 million population. Kuwait Investment Authority (KIA) with $1 trillion AUM is the oldest sovereign wealth fund in the world with the setup of Kuwait Investment Board in 1953 & Kuwait Investment Authority (KIA) in 1982.
“ Goldman Sachs Launches Onshore Private Wealth Management in Saudi Arabia Riyadh, Opened Office in Riyadh in 2008, Executive Director Yousef Alhozaimy Relocated from UAE Dubai to Riyadh in 2024 & Transferred from Global Banking & Markets to Asset & Wealth Management in 2025 May, Executive Director Khalid Soufi Transferred from UAE Dubai to Riyadh in 2025 May, Goldman Sachs Private Wealth Management Reports $1.8 Trillion Assets under Supervision in 2025 September “
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Rob Mullane, Co-Head of Private Wealth Management for EMEA at Goldman Sachs: “We are delighted to expand our commitment to Saudi Arabia by launching an onshore presence in Riyadh. 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.”
Goldman Sachs Private Wealth Management – Goldman Sachs Private Wealth Management specializes in creating comprehensive wealth management plans for ultra-high net worth individuals and families, as well as select institutions, including foundations and endowments. The business has USD 1.8 trillion of client assets under supervision (as of 30 September 2025). Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Goldman Sachs Opens New Office in Kuwait & Hires Kuwait $134 Billion Pension Fund (PIFSS) Mohammad Almatrouk as Managing Director to Lead Goldman Sachs Kuwait Office & Had Hired Credit Suisse 11-Year Private Banking Veteran Fahad Alebrahim as Managing Director for Private Wealth Management in 2024, Kuwait GDP at $160 Billion with 4.9 Million Population in 2024, Kuwait Investment Authority (KIA) with $1 Trillion AUM is the Oldest Sovereign Wealth Fund in the World with Setup of Kuwait Investment Board in 1953 & Kuwait Investment Authority (KIA) in 1982
8th October | Hong Kong
Goldman Sachs has opened a new office in Kuwait, and hired Kuwait $134 billion pension fund (PIFSS, Public Institution for Social Security) Mohammad Almatrouk as Managing Director to lead Goldman Sachs Kuwait office and had hired Credit Suisse 11-year private banking veteran Fahad Alebrahim as Managing Director for Goldman Sachs Private Wealth Management in 2024. Kuwait GDP is at around $160 billion in 2024, and has around 4.9 million population. Kuwait Investment Authority (KIA) with $1 trillion AUM is the oldest sovereign wealth fund in the world with the setup of Kuwait Investment Board in 1953 & Kuwait Investment Authority (KIA) in 1982. Announcement (6/10/25): “The Goldman Sachs Group, Inc. (NYSE: GS) today announced the opening of an office in Kuwait, furthering the firm’s commitment to the country and the region. Goldman Sachs and Kuwait have been strategic partners for 50 years, collaborating on Investment Banking, Capital Markets and Asset Management initiatives. A core part of the partnership has been a Goldman Sachs led professional training program to develop local talent within the Kuwait Investment Authority (KIA), the Public Institution for Social Security (PIFSS) and the Kuwait Fund, spanning multiple disciplines. The firm will continue investing in the recruitment and development of top Kuwaiti talent to serve its regional and global client base. As a part of the expansion of activities in Kuwait, Goldman Sachs has hired Mohammad Almatrouk as a Managing Director to lead the office and the firm’s continued growth in Kuwait, pending final approval from the regulatory authorities. The firm also recently hired Fahad Alebrahim as a Managing Director in its Private Wealth Management business. Goldman Sachs continues to scale its presence and reinforce its commitment to the Middle East as a strategic growth area for the firm across Investment Banking, Asset Management and Private Wealth Management.
“ Goldman Sachs Opens New Office in Kuwait & Hires Kuwait $134 Billion Pension Fund (PIFSS) Mohammad Almatrouk as Managing Director to Lead Goldman Sachs Kuwait Office & Had Hired Credit Suisse 11-Year Private Banking Veteran Fahad Alebrahim as Managing Director for Private Wealth Management in 2024, Kuwait GDP at $160 Billion with 4.9 Million Population in 2024, Kuwait Investment Authority (KIA) with $1 Trillion AUM is the Oldest Sovereign Wealth Fund in the World with Setup of Kuwait Investment Board in 1953 & Kuwait Investment Authority (KIA) in 1982 “
David Solomon, Chairman and Chief Executive Officer of Goldman Sachs: “Kuwait is driving forward a rapid transformation to deliver economic growth and opportunities for its citizens. We look forward to deepening our longstanding partnership with Kuwait as we establish this office to grow our capabilities across the Middle East and better serve our clients.”
Sheikh Dr. Meshaal Jaber Al-Ahmad Al-Sabah, Director General of Kuwait Direct Investment Promotion Authority (KDIPA): “Kuwait remains committed to attracting high-impact, long-term global investors who contribute to our national priorities—particularly in talent development and the nurturing of local expertise. These efforts directly support our economic diversification strategy and reflect our broader vision for sustainable growth and global integration, in line with Kuwait Vision 2035.”
Goldman Sachs – Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
Goldman Sachs Opens New Office in Kuwait & Hires Kuwait $134 Billion Pension Fund (PIFSS) Mohammad Almatrouk as Managing Director to Lead Goldman Sachs Kuwait Office & Had Hired Credit Suisse 11-Year Private Banking Veteran Fahad Alebrahim as Managing Director for Private Wealth Management in 2024, Kuwait GDP at $160 Billion with 4.9 Million Population in 2024, Kuwait Investment Authority (KIA) with $1 Trillion AUM is the Oldest Sovereign Wealth Fund in the World with Setup of Kuwait Investment Board in 1953 & Kuwait Investment Authority (KIA) in 1982
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