Citi Banking Group announced today the appointment of Wasim Muhammad Asim Al-Khatib, the CEO of Citigroup in Saudi Arabia, noting that this appointment is subject to the approval of the Saudi Capital Market Authority. As part of his new duties, Waseem will be responsible for leading the Citi business licensed and regulated by the regulatory authorities in the Kingdom of Saudi Arabia, and coordinating the services provided to the bank’s clients in the Kingdom, and will work under the leadership of Linus Lecas, Head of Corporate Banking and Investment Services in the Eastern Europe region. Central, Middle East and Africa, and Carmen Haddad, vice president of Middle East banking activities at Citi and managing director of Citigroup Saudi Arabia.
Al-Khatib joins Citi from the National Commercial Bank and Al-Ahly Capital, in which he spent fifteen years, and most recently held the position of Managing Director and Head of Investment Banking at Al-Ahly Capital.
Commenting on this appointment, Carmen Haddad said: “The Saudi Arabian market is an important component of Citi’s Middle East strategy and is among the bank’s primary growth markets worldwide. She added, “Wasim has extensive banking experience and deep knowledge in this sector, which will enable him to continue to lead and implement our strategy to serve our customers and contribute to supporting and empowering the capabilities of successive generations in the Kingdom.”
Waseem said, “I am delighted to join Citigroup, the prestigious global financial institution, and I am proud to lead the City Group Saudi Arabia team and work closely with our customers in the Kingdom. As an active and effective member of the financial services sector in Saudi Arabia, supporting the Kingdom’s economic growth and diversification plans.
In April 2017, Citi obtained a license from the Saudi Capital Market Authority to provide a range of services, including investment banking, debt capital markets, stock markets and stock research, to its clients from local and international institutions.
Today, Citigroup Saudi Arabia is among the best providers of financial advisory services for public and private projects, joint ventures, strategic alliances and privatization. Citigroup Saudi Arabia also provides debt structuring, capital raising and restructuring advice. Through Citi’s membership in Tadawul, the Saudi Stock Exchange, and the expansion of its custody and direct clearing services, Citi provides its institutional investors with a range of services available in the Kingdom, ranging from trading execution to clearing and settlements.