Business & Money | Wednesday 31 October, 2018 2:30 pm |

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 Mr. Tariq bin Mutlaq Al Mutlaq, Chairman ofNBK 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 andresponsible for placement and managing key relationships. Prior to Investcorp, He was heading the investment banking in Audi Capital after leading a team in the Wealth Management side. Al Sudairy started his career in SABB handling corporate relationships in the corporate banking department where he progressed from an Assistant RM to an Acting Team Leader. 

Musaad Al Sudairy holds a Bachelor’s degree in Finance from King Fahad University of Petroleum and Minerals and an MBA from Manchester Business School.

 

 

NBK Group, the leading financial institution in the region, fully supports NBK Wealth Management in both the local and regional markets, with a solid structure and systematic investment methodology that enables NBK Wealth Management to develop value added solutions that constantly deliver fully fledged services to its customers. 

 

It is worth mentioning that NBK continues to enjoy collectively one of the highest ratings among all banks in the Middle East from the three international rating agencies Moody’s, Fitch Ratings and Standard and Poor’s. The Bank’s ratings are supported by its high capitalization, prudent lending policies, and its disciplined approach to risk management, in addition to its highly recognized and very stable management team. NBK was also named among Global Finance’s list of the 50 safest banks in the world for thirteen consecutive times and was awarded as the Best Bank in Kuwait in 2017 by the Banker, Euromoney and Global Finance.

 

NBK enjoys the widest banking presence with a local and international network reaching 4 continents. NBK’s international presence spans many of the world’s leading financial centers including New York, Europe, Singapore and China; in addition to its presence in MENA.