Evercore to Open Office in Saudi Arabia After Receiving License

Evercore Inc. will open an office in Saudi Arabia, becoming the latest investment bank to expand operations in the oil-rich kingdom as it’s in the midst of a trillion-dollar economic transformation.

Mohammed Aldekmary, who joined Evercore in May, will lead the new office as chief executive officer of Evercore’s Saudi Arabia business, according to a statement. The move comes after New York-based Evercore received its arranging license from the kingdom’s Capital Markets Authority.