Willis Group Holdings said today that it is among one of the first brokers to officially receive a license in Saudi Arabia from the Saudi Arabian Monetary Agency. The operation will be named Willis Saudi Arabia.
Willis said it already serves many clients through the offices of Arabian International Management Company (AIMCO). Reinforcing its commitment to that market, Willis said it has taken a significant equity stake in AIMCO through its Dubai-based joint-venture, Al-Futtaim Willis, which will be renamed Willis Saudi Arabia.
The unit will be led by Murray McLachlan as general manager. Willis Saudi Arabia now boasts some 40 staff with offices in Riyadh, Jeddah and Al-Khobar.
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