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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

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.

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