Mitsubishi UFJ Financial Group Inc. is looking to hire in Saudi Arabia as the lender seeks to benefit from privatizations valued at more than $350 billion over the next five years.
"We are planning to start expansion in Saudi Arabia by hiring 20 people," Elyas Algaseer, the bank's co-head in the Middle East and North Africa, said in an interview in Dubai. "That will go up to 60 in 3 to 5 years in line with our expectations of the growth in business."
MUFG, as the banking group is known, is set to become the first Japanese lender to start full banking operations in the world's biggest oil exporter after obtaining approval from the kingdom's central bank. The operator of Japan's biggest bank plans to open the branch in Riyadh as early as next year, Algaseer said.