Global financial services provider, Apex Group, has launched a new office in the Kingdom of Saudi Arabia, further expanding its footprint across the Middle East.

Regulated by Saudi’s Capital Market Authority, Apex Saudi Arabia will provide a full range of innovative financial services and solutions, including managing, advisory and operating, it said in a statement on 15 May.

Apex Group said it has much experience within the market, having served many Saudi clients from its regional offices within the Middle East region.

Growth has been driven by increased demand from existing and new clients for Apex’s single-source solution.

Based in Riyadh, Apex Saudi Arabia will have the largest support team based locally in the Kingdom who are experienced in administering a number of services, such as Islamic funds, private equity funds, venture capital, real-estate and property level accounting, as well as equities, commodity, FX, and derivatives.

Christiane El-Habre, Apex Group regional managing director - Middle East, said: “I’m delighted to announce this milestone in our expansion across the Middle East. The Kingdom is one of the fastest growing global economies, and its stable economic conditions make it an attractive jurisdiction to conduct business. Apex Group offers an end-to-end solution to support local asset managers, foreign funds and SPVs with services tailored to their individual requirements.”

Zafar Ullah Khan, Apex Group country head – Kingdom of Saudi Arabia, said: “Saudia Arabia is a fertile ground for innovation and growth. Amid the momentous economic reform and dynamic landscape, Apex Group has found its footing and is in the process of setting up its largest operation in the Middle East.”

Apex Group currently employs 220 in the Middle East across five office locations.