Credit Suisse Hires New CEO For Saudi Commercial Bank Unit
Credit Suisse is expanding after receiving a full banking license for the kingdom in April 2019
Credit Suisse Group AG hired Majid Al Gwaiz as the first chief executive officer of its commercial banking business in Saudi Arabia as the Swiss lender boosts its presence in the kingdom, according to people familiar with the matter.
Al Gwaiz, previously the general manager for corporate banking at Al Rajhi Bank in the country, will assume the role next month, the people said. A representative for Credit Suisse declined to comment.
Credit Suisse is expanding after receiving a full banking license for the kingdom in April 2019. Saudi Arabia is accelerating the process to allow more global banks to operate in the oil-rich state. The commercial banking permit is in addition to an investment banking license. Khalid Al Ghamdi is CEO of that business.
The Zurich-based bank appointed Wisam Alfreihi as head of investment banking and capital markets and also hired Hazem Shawki from Goldman Sachs Group Inc. to head investment banking for the Middle East, Africa and Turkey.
First Abu Dhabi Bank Opens New London Branch, Marking 48 Years In The UK
FAB first entered London through its predecessor National Bank of Abu Dhabi, and the city now serves as a hub for priva... Read more
Estithmar Holding Net Profit Doubles To $128mn In H1 2025
Doha-based investment firm posts revenue of QAR 3.073 billion as international expansion drives growth Read more
UAE Central Bank Follows Fed Lead And Maintains Base Rate At 4.4%
Also decides to maintain the interest rate applicable to borrowing short-term liquidity at 50 basis points above the Ba... Read more
Joyalukkas Secures AED500m Capital Boost From Emirates NBD For Global Expansion
The deal is fully integrated with Emirates NBD’s advanced digital and trade platforms, offering Joyalukkas real-time ... Read more
UAE Central Bank Suspends Foreign Insurers Motor Business Over Solvency Issues
The CBUAE cited the entity's non-compliance with solvency and guarantee requirements specified in the Law and prevailin... Read more
Standard Chartered Launches UAEs First Sustainable Escrow And Account Bank Solution
New solution enables clients to align cash deposits with sustainability goals through a market-first offering available... Read more