JPMorgan increases hiring in Saudi Arabia

JPMorgan Chase & Co. reports an intention to increase the staff working in Saudi Arabia by 20 people. The staff will be expanded before this year ends.

Bader Alamoudi, senior country officer, said the new hires were needed as JPMorgan increased its operations in the country twice. According to him, Saudi Arabia's undying interest in the international market and the desire of foreign companies to gain access to the Saudi market prompted the bank to decide on additional hiring. Thus, at the moment, the bank is in search of employees who will increase the company's capital, serve customers and carry out activities in the operations department.

According to some reports, Saudi Aramco is preparing to float shares of its subsidiary Aramco Trading for sale. This confirms Saudi Arabia's interest in the international market.

It’s reported that the CEO of JPMorgan Jamie Dimon will personally participate in the Future Investment Initiative, which is the largest conference in Saudi Arabia. The conference is taking place this week.

Since Prince Mohammed began to transform the economy of the kingdom, the Saudi market has been filled with representatives from American banks. Thus, despite the dwindling number of deals in some other countries, Saudi Arabia Is a great country for IPO.

Alamoudi said that as Saudi Arabia attracts many, JPMorgan has new competitors, but the bank has no intention of stopping and plans to continue to grow in order to meet the demands of customers in Saudi Arabia.