Citigroup Inc. announced the opening of its regional headquarters in Riyadh, making it the latest Wall Street bank to establish a stronger foothold in the kingdom as it seeks to do more business with the government and its nearly $1 trillion sovereign wealth fund.
The bank chose the landmark Kingdom Tower for its HQ, rather than the glitzy new financial district where others like Goldman Sachs Group Inc. have set up, after receiving a license to do so last year, according to a statement on Sunday.
