What Sectors Is JPMorgan Targeting in Saudi Arabia

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00:00FII is on its ninth year and you have a roundtable tomorrow, quite an important one in the morning.

00:07Who are you looking forward to meet? What sectors are you interested in and most excited about in Saudi?

00:14Look, I got here last night and I was really touched because we had our 90th anniversary.

00:19Half the ministry came to it and obviously employees and 300 people.

00:23And just a reminder, we've been here. When I first came here, there was one person working here.

00:28One. And now there's 140, which is 40% of women.

00:32You've taken 350 companies public in the last couple of months.

00:35We helped Saudi Arabia go public here.

00:37So our history here, and our capital deploys like $14 billion.

00:42So our history has been to grow with the country.

00:44The country has gone through enormous transformation economically, culturally,

00:49things you wouldn't have expected, but the education system which drives a lot of growth.

00:53You know, you have more and more. I did run into some technology companies last night.

00:57I had this wonderful lunch at a person's private home and reminded me of the enormous hospitality of the Saudi people.

01:03And so it'll be each industry. Obviously, we're a lot of, you know, petrochemicals, oil and gas.

01:09But you have chemical companies, some fintech companies. You have banks. You have, you know, a lot of retailers here.

01:14So we'll grow with them. And when I visit, I always ask the people here, what more can we do to help your clients and your country?

01:20Exactly.

01:21And PIF, obviously, it's a huge successful fund that we call on almost every level.

01:27The other thing I should point out, we bank 350 companies here.

01:30We bank a lot of Saudi companies when they travel the world.

01:33So an institution like PIF, which is huge, we bank them here.

01:36We also bank them in Europe, Brazil, United States, China.