LONDON, 17 May 2007 -- JPMorgan appointed yesterday Mohammad Al-Tuwaijri as the managing director and senior country officer for Saudi Arabia. He assumed his new role yesterday in Riyadh. Al-Tuwaijri joins the firm after 12 years at SABB-HSBC, an associated company of the HSBC Group in Saudi Arabia, where he was group treasurer and a board member of HSBC Investment Bank SA.
He will be responsible for building client relationships, setting the strategic direction and providing leadership across the firm's lines of business in Saudi Arabia.
Ghassan Abdul Karim, CEO of the Middle East and North Africa at JPMorgan, said: "We are investing substantially in our long-standing presence in Saudi Arabia where the firm has roots that date back to the 1930s. Mohammad's extensive experience, indepth knowledge of the Saudi market and client base will build upon our track record in the Kingdom."
Al-Tuwaijri will report to Abdul Karim.
In June 2004, JPMorgan was one of three institutions to receive the first-ever banking licenses issued to global banks from the Kingdom of Saudi Arabia, reflecting the firm's long-time activity in the country. JPMorgan opened an office in Riyadh in 2006. Recent activity on behalf of clients includes underwriting Riyad Bank's $500 million inaugural Eurobond and serving as global coordinator for the issue, and arranging Saudi Aramco's flagship $4 billion revolving credit facility and serving as joint bookrunner and lead arranger for the issue.
© Arab News 2007
