Al Riyadh: Gulf Tech News
Fahad Aldeweesh Appointed Citi Saudi Arabia CEO
Citi today announced the appointment of Fahad Aldeweesh as Citi Saudi Arabia (CSA) Chief Executive Officer.
As CEO of Citi Saudi Arabia, Fahad will oversee all businesses and operations in the local legal entity. He will be responsible for Citi’s business and governance in Saudi Arabia and for coordinating the overall delivery of Citi’s strategy and serving the bank’s clients in the country.
Fahad will work closely with business partners to drive franchise performance and manage regulatory relationships. He will report to Carmen Haddad, Vice Chairwoman-Citi Middle East and Country Officer-Citi Saudi Arabia.
Fahad has close to twenty years of investment banking and private equity experience covering equity capital markets, debt capital markets, mergers and acquisitions.
Fahad joins Citi from J.P. Morgan Saudi Arabia, where he spent nine years most recently as the CEO and head of Investment Banking. He also served as a board member on some of the Kingdom’s leading institutions and foundations. Prior to that, Fahad held leading roles with reputed financial sector players in the Kingdom including Standard Chartered, Amwal Alkhaleej and HSBC.
‘’The Kingdom of Saudi Araba is a strategically important market for Citi and we continue invest in talent,’’ said Haddad. ‘’Fahad is a seasoned banker with extensive experience in the financial industry. We are pleased to welcome him to Citi and look forward to working with him to support our clients in the region’s largest economy,’’ she said.
Commenting on his appointment, Fahad said: “I am excited to assume the role of Chief Executive Officer of Citi Saudi Arabia. Vision 2030 has produced exciting opportunities for local and international investors across financial markets and the wider economy. As the Kingdom unlocks new sectors and further integrates into the global economy, significant banking opportunities are produced to facilitate partnerships, investments, trade, and commerce. Together with the rest of the team on the ground, I look forward to building on the strong foundation of the franchise and keep delivering strong results for our partners.”
Citi Saudi Arabia provides a full range of financial advisory services with respect to mergers, acquisitions and divestitures and advises on public and private projects, joint ventures and strategic alliances and privatization. CSA also advises on debt and equity raising, structuring and restructuring.
Citi is licenced by The Saudi Arabian Capital Market Authority to provide a range of investment banking, capital markets, markets, and research services to its local and international clients. In 2019, Citi joined Tadawul, the Saudi Stock Exchange, and expanded its Direct Custody and Clearing services to Saudi Arabia. In 2022 Citi was appointed by Saudi Arabia’s Ministry of Finance as one of the five International Financial Institutions in the country joining the Primary Dealers’ Programme for local government debt instruments.
