Lazard hires Al-Khatib as chief executive of its investment ...| MENAFN.COM

Sunday, 05 February 2023 05:09 GMT

Lazard hires Al-Khatib as chief executive of its investment banking business for MENA


(MENAFN) Investment bank Lazard Ltd announced on Monday that it appointed Wassim Al-Khatib as CEO of the bank's investment banking business for the Middle East and North Africa.

The announcement added that Al-Khatib is going to also be chief executive of Lazard Saudi Arabia.

Al-Khatib becomes part of Lazard from Citigroup where he moved toward its business in Saudi Arabia and before that, he was the chief of National Commercial Bank's investment banking business where he was a vital dealmaker on oil giant Aramco's opening public proposing.

Global banks have been courting Saudi Arabia ever since the nation highlighted strategies to soar Aramco, causing in a massive USD29.4 billion stake sale before the COVID-19 epidemic.

The Middle East has been a positive position of activity in an otherwise declining year for equity capital markets. Firms have collected an amount of USD21.9 billion via IPOs in the area last year, over 50 percent of the overall for the wider EMEA area, which also contains Europe and Africa, as shown by Dealogic figures.

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