12:54 PM EDT, 10/31/2024 (MT Newswires) -- (Update with BlackRock's ( BLK ) response to a request for comment.)

BlackRock ( BLK ) received the go-ahead from Saudi Arabia to establish its regional headquarters in Riyadh, Bloomberg reported Thursday, citing a statement from the country's senior adviser of the minister of investment.

"BlackRock ( BLK ) is pleased to be establishing its regional headquarters in Riyadh," BlackRock Saudi Arabia Chief Executive Yazeed Almubarak said in a statement. "We are proud of our track record in Saudi Arabia and the Middle East, including the launch of an innovative regional infrastructure fund, our broader multi-asset investment platform in Riyadh that is delivering differentiated investment solutions, and advisory capabilities aligned with the objectives of Vision 2030 and the Financial Sector Development Program."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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