PHOTO
Riyadh, Saudi Arabia – Citi today announced the appointment of Wassim Al-Khatib as Citi Saudi Arabia (CSA) Chief Executive Officer, subject to approval by the Saudi Arabian Capital Market Authority (CMA). In this capacity, Wassim will be responsible for Citi’s regulated business in Saudi Arabia and for coordinating the overall delivery to clients in the country, reporting to Linos Lekkas, Head of Citi’s Corporate & Investment Banking-Central & Eastern Europe, Middle East and Africa (CEEMEA), and Carmen Haddad, Vice Chairperson-Citi Middle East & Country Officer-Citi Saudi Arabia.
Al-Khatib joins from National Commercial Bank (NCB) and NCB Capital where he had spent fifteen years, lately as Managing Director and Head of NCB Capital’s Investment Banking.
‘The Kingdom of Saudi Arabia is a critical component of Citi’s Middle East strategy and is an essential growth market for Citi globally,’ said Haddad. ‘Wassim is a highly experienced banker with the right expertise to continue driving our strategy of serving our clients and contributing to the Kingdom’s generational transformation.’
Commenting on his appointment, Al-Khatib said: ‘I am delighted to join a world-class financial institution and proud to lead Citi Saudi Arabia and work closely with our clients in the Kingdom. Together with the CSA team, we will continue to deliver products and services of the highest standards, while fulfilling our evolving role as an effective member of the Saudi financial services sector and supporting the Kingdom’s economic growth and diversification plans.’
In April 2017, the (CMA) granted Citi a license to provide a range of Investment Banking, Debt and Equity Capital Markets, and Securities Research capabilities to its local and international institutional clients.
Today, CSA ranks among top providers of financial advisory on public and private projects, joint ventures and strategic alliances and privatization. CSA also advises on debt and equity raising structuring and restructuring. Through its membership with Tadawul, the Saudi Stock Exchange, and the expansion of its Direct Custody and Clearing (DCC) services to Saudi Arabia, Citi offers its institutional investor clients a range of services in the country, from trading execution to clearing.
-Ends-
About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management.
Additional information may be found at www.citigroup.com
Media Contact
Tara Sirinyan
Citi Public Affairs
Tara.sirinyan@citi.com
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
