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Irish FinTech Global Shares sets up 17th office in Saudi Arabia

By Edil Corneille

February 08, 2021

  • Irish
  • Saudi Arabia

Global Shares, Ireland, FinTech, Saudi ArabiaIrish FinTech firm, Global Shares has expanded into Saudi Arabia with an office in the capital, Riyadh. Based in Clonakilty, Global shares manages employee share plans of companies across Europe, America and Asia.

The opening of the Riyadh office follows the company’s roll out of the Arabic version of its online portal and mobile app.

This office will be the base for the company’s new Managing Director of the Middle East, Abdulhadi Alherz. ”I am really excited to join Global Shares – a global fintech leader, which has reimagined technology solutions in the employee ownership space. It is a niche market, where I get to continue working with software and fintech, whilst delivering digital transformation and a really great customer experience, which is core to business success,” he shared.

He went on to add: “The arrival of a global fintech leader in the employee ownership sector is great news for Saudi Arabia and the wider region, and it’s also exciting for Global Shares. Saudi Arabia has a large, strong economy with a population of 33.7 Million and GDP of $790,000,000,000. Our country is highly diverse:  32% of the population is made up of expats and 66% of the population is youthful, both of which will help from a long-term incentive plans perspective”.

Abdulhadi Alherz  formerly worked with Saudi Aramco, Cisco and Oracle and has over 15 years’ experience in digital transformation and financial services.

John Meehan, Global Shares Business Development Director said, ”The Middle East is a region of huge strategic importance to Global Shares as more and more companies recognise the importance of equity-based compensation.”

Furthermore, Global Shares has also partnered with NCB Capital – the largest investment bank in Saudi Arabia. “It is very encouraging to see Global Shares, an Enterprise Ireland backed company, expand their footprint into the Middle East by establishing a presence in Riyadh, Saudi Arabia. The FinTech scene across the Middle East is both vibrant and thriving with plenty of opportunities. Irish FinTech is well received in this region for its innovative tech and ability to solve complex problems. The Riyadh office becomes the 17th site for the business with offices spanning the globe and an incredible feat for a FinTech located in West Cork, Ireland,” said Enterprise Ireland’s Stephen Twomey, Senior Market Advisor for MENA.

He went on to add, “Global Shares is a great example of why Ireland has forged out its role and reputation as a global hub for finance, technology, and leading fintech innovation.”

Alongside Saudi Arabia, Global Shares is also concentrating on Kuwait, Bahrain, Oman, Qatar, UAE, Jordan, Tunisia & Egypt. Its products are suitable for both emerging, early stage or large permanently private as well as publicly listed companies.

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