Finance
Lazard Follows Goldman in Setting Up Mideast HQ in Saudi
- New York-based bank got its regional headquarters license
- Goldman had become first Wall Street bank to get the nod
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Lazard Inc. became the latest Wall Street firm to comply with Saudi Arabia’s rules for foreign firms to set up their Middle Eastern base in the kingdom, months after larger rival Goldman Sachs Group Inc. secured a similar license.
The New York-based firm has received a so-called regional headquarters license from the Saudi Ministry of Investment, according to people familiar with the matter, who asked not to be identified as the information is private.