Nomura appoints new CEO in Saudi Arabia

October 23, 2010 12:08 pm

He joins Nomura from the Tadawul, the Saudi Arabia Stock Exchange, where he served as the Chief Financial Officer.

Philip Lynch, Chief Executive Officer of Asia ex-Japan and Middle East at Nomura, said:

“Khaled is an outstanding addition to our senior management team. As a professional who has worked in important Saudi organisations such as the Tadawul and Saudi Arabia Monetary Agency (SAMA) for over 20 years, he brings knowledge and experience of the Saudi Arabian market and an extensive network. Under Khaled’s leadership, we look forward to further developing our Saudi business.”

Mr. AlKhattaf, Chief Executive Officer, Nomura Saudi Arabia, said: “I am proud to be joining such an established global player that is building its presence in the Kingdom. I see significant opportunity for Nomura in Saudi Arabia due to its highly differentiated offering and unparalleled access to Asian and global markets.”

Before joining the Tadawul, Mr. AlKhattaf worked at SAMA as Assistant Director, Investment Management Department, where he ran investment portfolios. He was with SAMA for nearly 20 years, working across different divisions, including serving on the G20 team representing Saudi Arabia as well as representing Saudi Arabia in the drafting of the Santiago Principles (2008) on Sovereign Wealth Fund activities. Prior to joining SAMA, Mr. AlKhattaf worked at the World Bank where he held various treasury and investment roles.

Nomura received its commencement letter to launch its operations for Saudi Arabia in July 2009, allowing it to offer corporate finance and wealth management services for its clients and deal as an agent for overseas securities. In April 2010, it formally opened its first offices in Riyadh, becoming the first Asian investment bank to provide investment banking services in the Kingdom.