Riyadh, State Street Corporation (NYSE: STT ) announced today that its wholly owned subsidiary, State Street Saudi Arabia Financial Solutions, has successfully obtained an upgrade of its license from the Capital Market Authority in the Kingdom of Saudi Arabia to include Investment Management and Fund Operations (MIOF) , enabling the company to offer fund management services locally in the Kingdom and enhance its investment services capabilities within the Saudi market .

While State Street continues to serve its clients in Saudi Arabia through its global platform and existing operational capabilities within the Kingdom, the addition of fund management activities to its investment management and fund operation license enables the company to formally offer fund management services within the Saudi market, thus enhancing its integrated investment services ecosystem. This development reflects the growing demand for local asset management and investment services as the Kingdom continues to develop its financial markets in line with the objectives of Saudi Vision 2030 .

Oliver Berger, head of strategic growth markets at State Street, said :
“ This step represents an important milestone in our journey to support our clients in the Kingdom of Saudi Arabia, as well as our global clients who continue to invest and expand their presence in the Middle East region. Through our ability to manage and operate funds locally, we are strengthening our position as a long-term partner for local and global institutional investors, and providing more efficient market access and advanced operational capabilities on the ground .”

The expanded license allows institutional investors, asset managers and owners to establish, operate and manage funds entirely within the Kingdom of Saudi Arabia, enhancing operational efficiency, achieving greater alignment with local regulatory requirements, and enabling the utilization of State Street’s global operating model through its local presence .

Rainer Cash, interim head of State Street's operations in Saudi Arabia and Bahrain, said :
" Obtaining this license is a significant step, but our current focus is on activating it to deliver tangible value to our clients. The new State Street license enables us to enhance a scalable infrastructure for investment services, supporting the development of the asset management ecosystem in Saudi Arabia, and contributing to accelerating the growth of capital markets and enhancing the development of the financial sector in the Kingdom . "

State Street has been serving clients in Saudi Arabia for over 25 years, establishing its local operations in the Kingdom in 2020, followed by the opening of its regional headquarters for the Middle East and North Africa in Riyadh. Adding fund management services to the company's licensed activities complements its existing custody and investment services and represents a significant milestone in its long-term commitment to the Kingdom as one of its key strategic growth markets .

State Street’s fund management services in Saudi Arabia will include fund accounting, financial and regulatory reporting, monitoring compliance with investment policies, and tax reporting .

About State Street

State Street Corporation (NYSE: STT ) is a leading global provider of financial services to institutional investors, including investment services, investment management, investment research, and trading. As of March 31, 2026, the company had $ 54.5 trillion in assets held and/or under management and $ 5.6 trillion in assets under management *.

State Street operates in more than 100 markets worldwide and employs approximately 51,000 people globally. For more information, please visit the company's website at www.statestreet.com

*Assets under management as of March 31, 2026, include approximately $184 billion in assets related to SPDR® products, for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts exclusively as the marketing agent. SSGA FD and State Street Investment Management are both subsidiaries of State Street.

© 2026 State Street Company

8997308.1.1.GBL.RTL

Valid until June 30, 2027

For media contact

Kate Cheung
Kate.cheung@statestreet.com

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