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Capital market institutions employ 5,531 by Q3-end; Saudization at 77%: CMA
Logo of Capital Market Authority (CMA)
The number of employees at capital market institutions in Saudi Arabia rose by seven quarter-on-quarter (QoQ) to 5,531 by the end of the third quarter of 2023, according to the latest data from the Capital Market Authority (CMA).
Meanwhile, the Saudization rate at these institutions reached 77% by the end of the same quarter, according to the CMA’s Capital Market Institutions Report.
The table below shows the number of employees at the 134 capital market institutions since 2017:
|
Employees at Capital Market Institutions since 2017* |
||
|
Period** |
Number of employees |
Saudization |
|
Q1 2017 |
4420 |
70% |
|
Q2 2017 |
4351 |
70% |
|
Q3 2017 |
4379 |
70% |
|
Q4 2017 |
4342 |
71% |
|
Q1 2018 |
4385 |
72% |
|
Q2 2018 |
4332 |
72% |
|
Q3 2018 |
4353 |
72% |
|
Q4 2018 |
4325 |
73% |
|
Q1 2019 |
4317 |
73% |
|
Q2 2019 |
4240 |
73% |
|
Q3 2019 |
4340 |
73% |
|
Q4 2019 |
4348 |
73% |
|
Q1 2020 |
4350 |
73% |
|
Q2 2020 |
4371 |
73% |
|
Q3 2020 |
4417 |
74% |
|
Q4 2020 |
4395 |
75% |
|
Q1 2021 |
4464 |
76% |
|
Q2 2021 |
4491 |
76% |
|
Q3 2021 |
4606 |
77% |
|
Q4 2021 |
4773 |
77% |
|
Q1 2022 |
4784 |
78% |
|
Q2 2022 |
5109 |
77% |
|
Q3 2022 |
5100 |
77% |
|
Q4 2022 |
5184 |
77% |
|
Q1 2023 |
5350 |
77% |
|
Q2 2023 |
5524 |
75% |
|
Q3 2023 |
5531 |
77% |
*Includes data of companies that were licensed at the time, but unlicensed later.
**Data is updated periodically.
The number of capital market institutions reached nearly 136 by the end of the third quarter of 2023. SNB Capital topped the list by number of employees with 378. Riyad Capital followed with 304 employees. The Saudization rate at both entities hit 88% during the same period.
Meanwhile, seven companies achieved 100%Saudization.
|
Number of Employees by end of Q3 2023 |
||
|
Company |
Number of Employees |
Saudization |
|
JOA Capital |
4 |
100% |
|
Razeen Capital |
7 |
100% |
|
Rawasi Advanced Investment |
4 |
100% |
|
Jadara Investment |
4 |
100% |
|
Dirham Capital |
6 |
100% |
|
Sadeed Financial |
5 |
100% |
|
Merak Capital |
20 |
100% |
|
Alinma Invest |
173 |
95% |
|
Manafa Capital |
14 |
93% |
|
Mekyal Financial Tech |
12 |
92% |
|
Edraj Capital |
11 |
91% |
|
Al Rajhi Capital |
251 |
88% |
|
Riyad Capital |
304 |
88% |
|
SNB Capital |
378 |
88% |
|
Sabeen Investment |
8 |
88% |
|
Albilad Capital |
184 |
88% |
|
Tamra Capital |
16 |
88% |
|
Dom Capital |
23 |
87% |
|
Mahafeth Real Estate Investment |
7 |
86% |
|
Adeem Capital |
14 |
86% |
|
TeamOne |
7 |
86% |
|
Derayah Financial |
192 |
85% |
|
Saudi Fransi Capital |
187 |
85% |
|
ANB Capital |
162 |
85% |
|
Derb Al-Tajar Finance |
6 |
83% |
|
Miyar Capital |
24 |
83% |
|
Mulkia Investment |
30 |
83% |
|
Alistithmar Capital |
130 |
82% |
|
Bait Al Mal Al Khaleeji |
22 |
82% |
|
Yaqeen Capital |
95 |
81% |
|
Alkhabeer Capital |
110 |
81% |
|
GIB Capital |
91 |
80% |
|
AlJazira Capital |
186 |
80% |
|
Value Capital Partners |
20 |
80% |
|
Standard Chartered Capital Saudi Arabia |
15 |
80% |
|
AlKhizanah Capital |
5 |
80% |
|
Marifa Capital |
20 |
80% |
|
Al-Nefaie Investment |
34 |
79% |
|
Northern Trust |
24 |
79% |
|
Alpha Capital |
62 |
79% |
|
The Family Office |
33 |
79% |
|
SEDCO Capital |
103 |
79% |
|
Alkhair Capital |
88 |
78% |
|
Alawwal Invest |
218 |
78% |
|
Arch Capital |
18 |
78% |
|
Seedra Investment |
9 |
78% |
|
Capital Growthis |
31 |
77% |
|
Afaq Capital |
13 |
77% |
|
Arbah Capital |
51 |
76% |
|
London and The Middle East Capital |
21 |
76% |
|
Jadwa Investment |
148 |
76% |
|
Malaz Capital |
37 |
76% |
|
Sadu Capital |
4 |
75% |
|
MEFIC Capital |
43 |
74% |
|
Tharwat For Financial Securities |
27 |
74% |
|
NBK Wealth Management |
42 |
74% |
|
Asyaf Investments |
34 |
74% |
|
Sidra Capital |
60 |
73% |
|
Osool & Bakheet Investment |
56 |
73% |
|
Rassanah Capital |
26 |
73% |
|
Awaed Capital |
37 |
73% |
|
JISR Venture Partners |
11 |
73% |
|
Goldman Sachs Saudi Arabia |
22 |
73% |
|
Tharawat Tuwaiq |
11 |
73% |
|
Emkan Alarabia |
14 |
71% |
|
IMPACT46 |
14 |
71% |
|
GIAMCO |
7 |
71% |
|
Citigroup Saudi Arabia |
24 |
71% |
|
Tatimah Capital |
17 |
71% |
|
J.P. Morgan Saudi Arabia |
47 |
70% |
|
Bayt Alnomow Capital |
10 |
70% |
|
Credit Suisse Saudi Arabia |
30 |
70% |
|
Itqan Capital |
26 |
69% |
|
Alawwal Capital |
29 |
69% |
|
Ashmore Investment Saudi Arabia |
22 |
68% |
|
Kasb Capital |
28 |
68% |
|
Wasatah Capital |
33 |
67% |
|
Anfaal Capital |
9 |
67% |
|
Nitaq Capital |
3 |
67% |
|
BNY Mellon Saudi Financial |
9 |
67% |
|
Esnad Advisory |
12 |
67% |
|
Ehata Financial |
12 |
67% |
|
Musharaka Capital |
65 |
66% |
|
Audi Capital |
26 |
65% |
|
First Abu Dhabi Investment Saudi |
23 |
65% |
|
BlackRock |
17 |
65% |
|
BNP Paribas |
14 |
64% |
|
HSBC Saudi Arabia Ltd. |
263 |
64% |
|
Aldukheil Financial Group |
25 |
64% |
|
Ertikaa Cap |
11 |
64% |
|
Raz Amwal |
11 |
64% |
|
Forsa Capital |
8 |
63% |
|
EJADA |
16 |
63% |
|
Deutsche Securities Saudi Arabia |
26 |
62% |
|
Rekaz Financial Holding |
18 |
61% |
|
Mashoura Capital |
10 |
60% |
|
SKFH |
30 |
60% |
|
Awan |
5 |
60% |
|
Blominvest Saudi Arabia |
64 |
59% |
|
Merrill Lynch Kingdom of Saudi Arabia |
22 |
59% |
|
Gulf International Investment |
19 |
58% |
|
Valuable Capital Financial |
42 |
57% |
|
Crédit Agricole CIB |
14 |
57% |
|
SHUAA Capital |
14 |
57% |
|
Aloula Geojit Capital |
9 |
56% |
|
Emirates NBD Capital KSA |
27 |
56% |
|
KAMCO Investment |
20 |
55% |
|
Lazard Saudi Arabia |
11 |
55% |
|
UBS Saudi Arabia |
13 |
54% |
|
EFG-Hermes Saudi Arabia |
41 |
54% |
|
Watheeq Capital |
17 |
53% |
|
Morgan Stanley Saudi Arabia |
29 |
52% |
|
Areeb Capital |
18 |
50% |
|
99Hlala Capital |
4 |
50% |
|
Amwal Financial |
8 |
50% |
|
Greenstone Saudi Arabia |
8 |
50% |
|
InvestCorp Capital |
17 |
47% |
|
BMG Financial Group |
15 |
47% |
|
Haykala Management |
11 |
45% |
|
Natixis CIB EMEA |
11 |
45% |
|
GFH Capital S.A. |
20 |
45% |
|
SICO Capital |
32 |
44% |
|
KKR Saudi |
7 |
43% |
|
Narmo Capital |
7 |
43% |
|
Tanmeya Capital |
7 |
43% |
|
State Street |
10 |
40% |
|
Societe Generale Saudi Arabia |
10 |
40% |
|
Saudi Venture Capital Investment |
11 |
36% |
|
Arcapita |
14 |
36% |
|
Ithmar Saudi Financial Consultancy |
9 |
33% |
|
Mizuho Financial Group |
6 |
33% |
|
smbc Advisory Services Saudi Arabia llc |
6 |
33% |
|
FIM Partners KSA |
7 |
29% |
|
Moelis & Company Saudi Limited |
8 |
25% |
|
Swicorp |
13 |
23% |
|
MCM Consultancy |
6 |
17% |
|
Total |
5531 |
77% |
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