Credit Suisse has hired Khalid Al Ghamdi, the current managing director at Mizuho Saudi Arabia, as the bank's new Saudi Arabia CEO.
Al Ghamdi's appointment comes a month after the Swiss bank hired Hazem Shawki, a Goldman Sachs banker, as its new head of its Middle East, Turkey and Africa investment banking and capital markets division.
Al Ghamdi, a Saudi national, was named managing director and executive board member of Mizuho Saudi Arabia in early 2018, the Japanese bank said at the time, with the mandate to push its business in the kingdom in areas including financing, capital markets and advisory. He is set to start in September, Reuters reports.
Prior to his time at Mizuho, Al Ghamdi was acting CEO and head of investment banking at GIB Capital, where he covered various senior positions for over 13 years.
Credit Suisse recently acquired a full banking license from the Saudi Arabia Monetary Authority and will seek to play part in a historical upheaval of the economy that the administration hopes can reduce dependence on oil.