Moody’s has opened a regional headquarters in Riyadh, deepening its footprint in the Middle East as multinational companies expand in Saudi Arabia to tap into the kingdom’s economic overhaul.
The new headquarters builds on Moody’s existing Saudi presence, where the company first opened an office in 2018. Mahmoud Totonji will lead the regional hub as general manager.
The upgrade “reflects our confidence in Saudi Arabia’s strong economic momentum, as well as our commitment to helping domestic and international investors unlock opportunities with our expertise and insights,” said Rob Fauber, president and CEO of Moody’s.
Saudi Arabia has been courting global firms to base regional operations in the kingdom under its Vision 2030 diversification drive spearheaded by Crown Prince Mohammed bin Salman. The program offers incentives such as tax benefits and streamlined licensing, alongside access to the Arab world’s largest economy.
Financial institutions and multinationals including Morgan Stanley, PepsiCo, PwC and Deloitte have already established regional headquarters in the kingdom.
Moody’s expansion comes as Saudi Arabia ramps up borrowing to fund large-scale infrastructure projects and accelerates efforts to deepen domestic debt markets, creating fresh demand for ratings, research and advisory services.
📌 Why it matters: Elevating Riyadh to regional headquarters status signals the kingdom’s rising weight in global capital markets, particularly as it channels vast sums into infrastructure and seeks to diversify funding sources beyond oil.
