BS Middle east midterm - Flipbook - Page 5
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MIDDLE EAST RISK, GOVERNANCE AND CONTROLS | RECRUITMENT MARKET UPDATE 2024
BARCLAYSIMPSON.COM
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Active hiring in SWFs and fintechs
Collectively, SWFs across the Middle East manage
nearly $4 trillion of assets. In fact, the Middle East
dominates the SWF rankings, with the UAE, Saudi
Arabia, Kuwait and Qatar all appearing in the top 12 in
terms of AUM, according to Reuters.
Fintech funding by country
Middle Eastern funds invest heavily overseas, and
thus they are eager to recruit skilled international
professionals from across the global funds industry.
Our consultants are therefore reporting rising
demand for investment risk, compliance, and data
analysis professionals as SWFs become more
sophisticated and grow out their teams.
Meanwhile, regional fintech growth has also been
strong, with McKinsey & Company estimating that
investment in the sector across the Middle East,
North Africa and Pakistan (MENAP) could increase
three-fold from $1.5 billion in 2022 to $4.5 billion in
2025.
Due to the rise in fintech and fintech-related
businesses launching throughout the region, we
are seeing a small, but steady increase in demand
for governance-related roles, particularly within
compliance. We expect hiring to become more
active as these fintechs grow in size and ambition.
12%
Bahrain
25%
37%
Saudi Arabia
UAE
Source: McKinsey & Company
