DUBAI: Citi on Tuesday announced the appointment of Wassim Al-Khatib, a key figure in Aramco鈥檚 2019 initial public offering (IPO), as CEO of its Saudi operations.
Al-Khatib will be responsible for expanding the American lender鈥檚 operations in 海角直播, after it relaunched in the Kingdom in April 2017 following a 13-year hiatus.
鈥淭he Kingdom of 海角直播 is a critical component of Citi鈥檚 Middle East strategy and is an essential growth market for Citi globally,鈥 Carmen Haddad, Citi鈥檚 vice chairperson for the Middle East and country officer for 海角直播, said in a statement.
鈥淲assim is a highly experienced banker with the right expertise to continue driving our strategy of serving our clients and contributing to the Kingdom鈥檚 generational transformation.鈥
Al-Khatib was previously managing director and head of NCB Capital鈥檚 investment banking division, where he was a key figure in Aramco鈥檚 SR96 billion ($25.6 billion) IPO in 2019.
The New York-based bank ended a five-decade presence in 海角直播 in 2004 with the sale of its 20 percent stake in Samba Financial.
In April 2017, it was granted a license by the Saudi Capital Market Authority to offer a range of investment banking, debt and equity capital market services.
