1. Evercore received an Arranging License in Saudi Arabia, enhancing its regional presence. 2. A new office in Riyadh will provide independent advice to clients. 3. Mohammed Aldekmary, with two decades' experience, will lead the Riyadh office. 4. Middle East is a priority growth area for Evercore's business operations. 5. Evercore aims to establish high-quality independent advisory services in Saudi Arabia.
FAQ
Why Bullish?
The expansion into Saudi Arabia reflects growth potential. Historical context shows international expansions can lead to increased revenues.
How important is it?
The establishment in Saudi Arabia can significantly enhance Evercore's market position and revenue, indicating substantial future potential.
Why Long Term?
Building a strong regional presence typically takes time to yield financial results, as seen in other market expansions.
Evercore (NYSE:EVR) announced today that it has received its Arranging License from the Capital Markets Authority in the Kingdom of Saudi Arabia and is opening an office in Riyadh to provide independent advice to clients in the Kingdom of Saudi Arabia. The office will be led by Mohammed Aldekmary, who will be based in Riyadh, Kingdom of Saudi Arabia, as CEO of Saudi Arabia and Head of Arranging. Mr. Aldekmary joined the firm in May 2025, spending time in Evercore's Dubai office as part of Evercore's Middle East coverage team. Evercore opened its Dubai office in 2017.
Matthew Lindsey-Clark, co-head of Evercore's EMEA investment banking business, said, "The Middle East represents a priority area of growth for Evercore and we are delighted to expand our presence further with the grant of our license and the opening of our office in Riyadh. Mohammed brings invaluable expertise and long-standing strategic connections, further reinforcing Evercore's strong presence in the Middle East and advancing our growth plans in the region."
"I am excited to have joined Evercore at a pivotal time for growth in the Kingdom of Saudi Arabia. The opportunity to expand our presence in the Kingdom of Saudi Arabia is both a privilege and a challenge I look forward to embracing. With the strength of Evercore's platform and culture, I am confident that we will establish the highest quality source of independent advice for our clients," said Mr. Aldekmary.
Mr. Aldekmary has over two decades of experience across investment banking, government advisory and financial services. He previously served as senior advisor to H.E. the minister of investment and held senior roles at The Saudi Investment Bank (Riyadh), Standard Chartered (London) and RBS (London).
Mr. Aldekmary holds an MBA and an M.S. in finance from Clark University and is an alumnus of London Business School.
About Evercore
Evercore (NYSE:EVR) is a premier global independent investment banking advisory firm. We are dedicated to helping our clients achieve superior results through trusted independent and innovative advice on matters of strategic and financial significance to boards of directors, management teams and shareholders, including mergers and acquisitions, strategic shareholder advisory, restructurings and capital structure. Evercore also assists clients in raising public and private capital, delivers equity research and equity sales and agency trading execution, and provides wealth and investment management services to high-net-worth and institutional investors. Founded in 1995, the firm is headquartered in New York and maintains offices and affiliate offices in major financial centers in the Americas, Europe, the Middle East and Asia. For more information, please visit www.evercore.com.
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Business Contact: Matthew Lindsey-Clark
Co-head of Evercore's EMEA Investment Banking business
Communications@Evercore.com
Media Contact: FGS Global
Evercore-Europe@fgsglobal.com
Jamie Easton
Global Head of Communications & External Affairs
Communications@Evercore.com
Investor Contact: Katy Haber
Head of Investor Relations & ESG
InvestorRelations@Evercore.com