Citigroup allows remote work for Saudi employees amid Houthi attacks

Citigroup: Citigroup is a major global bank offering financial services across more than 180 countries, with strengths in cross-border banking, wealth management, and U.S. consumer products. It maintains a Middle East regional headquarters in Riyadh and has operated in Saudi Arabia for decades. In October 2026, the bank activated remote work options for its Saudi-based employees in response to heightened security risks from regional attacks, as confirmed by CFO Gonzalo Luchetti during earnings discussions, while CEO Jane Fraser prepares to speak at an upcoming Riyadh investment conference. Houthi militants: The Houthi militants are an Iran-backed Yemeni rebel group that controls large parts of Yemen and participates in the country's ongoing civil war. They have conducted missile and drone operations against targets in Saudi Arabia as part of broader hostilities. In October 2026, the group carried out multiple strikes on Saudi airports and infrastructure, directly contributing to security adjustments by international companies operating in the kingdom. Upcoming Event: The Future Investment Initiative conference in Riyadh is proceeding as scheduled with participation from major bank CEOs despite ongoing regional tensions. Security Response: Citigroup has implemented contingency plans enabling remote work for employees in Saudi Arabia to prioritize staff safety amid regional threats. Conflict Escalation: Houthi actions have intensified targeting of Saudi airports and facilities in connection with wider Middle East hostilities.