Goldman Sachs named Omar Alzaim as chief executive officer of its operations in Saudi Arabia, according to a memo seen by Reuters on Thursday.

Alzaim joined Goldman in 2021 as an executive director and was named managing director in 2023. Previously he was at HSBC Saudi Arabia.

In May, Goldman received a license to set up its regional headquarters in Riyadh. Citigroup has also received approval to establish its regional headquarters in the city.

Alzaim will continue to serve as head of investment banking for Goldman in Saudi Arabia, the memo added.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru and Saeed Azhar in New York; Editing by Shounak Dasgupta)