JPMorgan Is Latest Wall Street Bank to Get Saudi HQ License

JPMorgan Chase & Co. has secured a regional headquarters license in Saudi Arabia, allowing the US lender to expand its on-the-ground operations in the kingdom as authorities push multinationals to set up bigger bases in Riyadh.

JPMorgan’s operations in the Middle East and North Africa will continue to report into the bank’s hub in London, a person familiar with the matter said.