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State Street secures fund administration license in Saudi Arabia
29 June 2026 Saudi Arabia
Image: FabianL/adobe.stock.com
State Street Saudi Arabia Financial Solutions, has upgraded its license to a Managing Investment and Operating Funds (MIOF) license from the Capital Market Authority in Saudi Arabia, enabling the firm to offer local fund administration services in the Kingdom.
The expanded license enables institutional investors, asset managers, and asset owners to establish, operate, and service funds entirely within Saudi Arabia, benefitting from streamlined operations, enhanced alignment with local regulatory requirements, and access to the firm’s global operating model delivered on the ground.
The firm says the addition of fund administration to its licensed capabilities complements its existing custody and investment services offering and represents a milestone in the firm’s commitment to Saudi Arabia as a strategic growth market.
Oliver Berger, head of strategic growth markets at State Street, notes: “This is a significant step in how we support our clients in Saudi Arabia, as well as our global clients as they continue to invest in and expand their presence across the Middle East.
“With the ability to manage and administer funds locally, we are strengthening our position as a long-term partner to both global and local institutional investors, providing enhanced market access and on-the-ground capabilities in the region.”
Rainer Kasch, interim head of the Kingdom of Saudi Arabia and Bahrain at State Street, adds: “Obtaining the license is an incredibly important step, but now we have to focus on how we deploy this for client outcomes.
"This new license enables State Street to provide scalable investment servicing infrastructure to Saudi Arabia’s asset management ecosystem, supporting the continued growth of the Kingdom’s capital markets and broader financial sector.”
The expanded license enables institutional investors, asset managers, and asset owners to establish, operate, and service funds entirely within Saudi Arabia, benefitting from streamlined operations, enhanced alignment with local regulatory requirements, and access to the firm’s global operating model delivered on the ground.
The firm says the addition of fund administration to its licensed capabilities complements its existing custody and investment services offering and represents a milestone in the firm’s commitment to Saudi Arabia as a strategic growth market.
Oliver Berger, head of strategic growth markets at State Street, notes: “This is a significant step in how we support our clients in Saudi Arabia, as well as our global clients as they continue to invest in and expand their presence across the Middle East.
“With the ability to manage and administer funds locally, we are strengthening our position as a long-term partner to both global and local institutional investors, providing enhanced market access and on-the-ground capabilities in the region.”
Rainer Kasch, interim head of the Kingdom of Saudi Arabia and Bahrain at State Street, adds: “Obtaining the license is an incredibly important step, but now we have to focus on how we deploy this for client outcomes.
"This new license enables State Street to provide scalable investment servicing infrastructure to Saudi Arabia’s asset management ecosystem, supporting the continued growth of the Kingdom’s capital markets and broader financial sector.”
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