Time: October 31, 2018
THE Board of NBK Wealth Management has announced the appointment of Musaad Al Sudairy as Chief Executive Officer of NBK Wealth Management, a subsidiary of NBK Group.
“We are delighted that Musaad has been appointed CEO of NBK Wealth Management,” said Tariq bin Mutlaq Al Mutlaq, Chairman of NBK Wealth Management. “He joined our team in April 2018 and has already been instrumental in leading the launch of NBK Wealth Management’s activities in the Saudi market. We confidently look forward to reaping the benefits of his wealth of expertise and proven track record in the Kingdom’s banking and investment sector.”
Last year, NBK Wealth Management received approval from the Capital Market Authority of Saudi Arabia (CMA) to operate in the local securities sector after it successfully fulfilled all regulatory requirements, The company is now licensed to offer investment funds management, discretionary portfolios management, deal arranging, advisory services, and custody arrangements.
“I am honored to be at the helm of NBK Wealth Management as we embark on our journey in the Saudi market with a commitment to utilizing the unique technical and financial capabilities of our dedicated professional team of to offer our customers a wide array of superior services and unique opportunities,” said CEO Al Sudairy. “We consider Saudi Arabia as a highly promising growth market and a key element in our strategic expansion plan aimed at increasing our network to three branches in Riyadh, Jeddah and Dammam.”
Al Sudairy was a principal at Investcorp where he was covering the Riyadh market and responsible for placement and managing key relationships.