Vault, a global digital wealth management and advisory platform, has expanded its services into the Kingdom of Saudi Arabia following approval of its Capital Market Authority (CMA) licence for advisory services.
The company announced that Abdulrahman AlSudairy has been appointed as the General Manager of Vault Saudi.
The launch brings a goal-based, data-driven advisory model to Saudi nationals and residents at a moment of significant structural change in the Kingdom’s wealth landscape.
The Kingdom’s investable wealth stands at $1.04 trillion and is projected to reach $1.31 trillion by 2029, underpinned by a young population that has a growing investment appetite and is driving wealth creation with digital platforms. This is enabling a shift from traditional asset bases such as cash and property, and significantly reducing dependence on government-linked pensions.
Abdulrahman AlSudairy General Manager Vault Saudi
“Saudi Arabia’s economic diversification is shaping a new phase of wealth creation and financial sophistication, and Vault Saudi is committed to helping millions of investors participate in that journey. At Vault, our focus is on creating access to personalised, goal-based advice and unlocking long-term wealth creation by helping clients plan for retirement, education, and the major life decisions that shape their financial futures. We are excited to build our local team and bring family-office-style global investment expertise to Saudi nationals and residents in a way that is firmly rooted in the Kingdom.”
Sami Abdul Hadi, Co-Founder and COO at Vault, said that, “As Vault marks its entry into Saudi Arabia, a country where we see the biggest opportunities, we are excited to bring together technology and market access to drive the wealth creation ambitions of the people here.”
“Abdulrahman is an accomplished business leader with deep experience in building and scaling growth across industries, which will play a crucial role as we launch our operations and build our team here. 81 percent of Saudi retail banking customers already access services via mobile, and with the existing digital infrastructure, we see a growing appetite for Vault’s offering,” Hadi added.
