Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Lazard hires Citi Saudi CEO

Al Khatib joined the New York-based bank as CEO in Saudi Arabia in 2021.
By TRENDS Desk
September 17, 2022 9:38 am
  • Citigroup confirmed Al-Khatib's resignation and said that Carmen Haddad will be taking over as acting CEO
  • 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

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]