Located in the Kingdom Tower in the Olaya commercial district, it 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 has been active in the Middle East for more than a decade and has had an office in Dubai dedicated to serving the region’s finance industry since 2008.
With annual revenues of approximately $4.5bn, the company is said to be the world’s largest privately held software and services company and is ranked 480 in the Fortune 500. It 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.”