A senior source in the Saudi Al-Rajhi Investments and Banking Group was recently cited by Al-Sharq Al-Awsat daily, stating that the group has decided to shut down its investment office in London. This decision was made, despite the fact that this office controls a substantial portion of the group’s assets and investments abroad.
The same source added that this initiative constitutes a major part of the company’s new strategy, aimed at enriching efficiency and effectiveness through cutting spending. Al-Rajhi Corporation also expressed its intention to move its major offices to Riyadh in order to have better management and control over all its activities. –(Albawaba-MEBG)
