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SunGard Opens New Office in Saudi Arabia

Posted Sun 10 Jun 2012 09:57:17 pm in News, Business | By News Desk

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SunGard launches new Saudi office alongside first ever SunGard 'Industry Seminar' held in the Kingdom


Office opening reflects the continuing development of the Saudi Arabian finance industry




Riyadh, Kingdom of Saudi Arabia: SunGard Financial Systems ('SunGard') has opened a new office in Riyadh, Saudi Arabia, in order to serve more closely its customer base in the Kingdom.

The office opening was announced today at the SunGard 'Industry Seminar' event in Riyadh, where over 70 senior finance industry professionals from Saudi Arabia and the wider Middle East are meeting to discuss the Kingdom's increasing role in the regional and global economies.

The new SunGard office in Riyadh, located in the Kingdom Tower in the Olaya commercial district, will help SunGard work more closely with its customers in the Kingdom, and so help support the growing importance of Saudi Arabia to both the regional and global finance industries.


SunGard already serves a wide variety of customers in the Middle East, including retail, commercial and investment banks, as well as corporate treasuries.


SunGard helps retail banks in the Middle East understand and appeal to new generations of customers by helping them leverage new technology delivery channels, such as mobile and online platforms


For commercial banks, SunGard provides balance sheet and risk management solutions and helps them conform to new international regulations


Corporate treasurers in the Middle East use SunGard solutions like AvantGard to help them achieve a full view of their cash positions for growth and liquidity facilitation

Investment banks, energy companies and brokers use SunGard solutions and services to help them make and settle trades on local and international exchanges more efficiently

SunGard has been active in the Middle East for over a decade and has had an office in Dubai dedicated to serving the region's finance industry since 2008.

With annual revenues of approximately $4.5 billion, SunGard is the world's largest privately held software and services company and is ranked 480 on the influential Fortune 500 list of leading global companies. SunGard has more than 17,000 employees worldwide and serves approximately 25,000 customers in more than 70 countries.

Wissam Khoury, managing director, SunGard Financial Systems, Middle East, said:

"The growing importance of Saudi Arabia to both the regional and global economies coupled with the rapidly developing Saudi finance industry make it a driving force in the future growth of the Middle East. SunGard's increased commitment to the Middle East through the establishment of a Riyadh office will help us work even more closely with our customers based in the Kingdom. This further investment in Saudi Arabia demonstrates our strong confidence in its local financial services industry."

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