Riyadh, Saudi Arabia— Lazard, financial services company, will hire Citigroup’s Saudi Arabia CEO Wassim Al-Khatib to support the boutique firm’s advisory operations in the MENA region.
Al-Khatib is expected to join Lazard as CEO for its MENA financial advisory business, according to the media reports.
Citigroup confirmed Al-Khatib’s resignation and said that Carmen Haddad, vice chairperson for Citigroup Middle East and country officer in Saudi Arabia, will be taking over as acting CEO, as the bank seeks to replace him.
He joined the New York-based bank as CEO in Saudi Arabia in 2021 and was previously head of investment banking at NCB Capital for about 15 years.
The Saudi national was a leading figure in Saudi Aramco’s initial public offering in 2019, the biggest ever share sale that raised almost $30 billion.