RIYADH: Private equity company Investcorp has appointed former BNP Paribas and JPMorgan executive Mashaal AlJomaih as new managing director for private wealth in Saudi Arabia.
The appointment of AlJomaih comes just a few months after the company launched a dedicated $500 million pre-initial public offering vehicle to primarily partner with Saudi family businesses that wish to go public.
Those firms are mainly across consumer, health care, transport and logistics, and business services.
Commenting on the appointment, Yasser Bajsair, CEO of Investcorp KSA said: “We are delighted to welcome Mashaal, who brings with him over 20 years of experience in investment banking.
“His deep knowledge and understanding of Saudi Arabia’s market, which is a key market for Investcorp, as well as his experience in wealth management, make him ideal for this role.”
As the managing director, AlJomaih will also support the expansion of the company’s client base in Saudi Arabia.
“I am excited to be joining Investcorp at this time in its growth journey and I look forward to helping lead the expansion of the firm’s footprint in Saudi Arabia. The Kingdom is an incredibly exciting and dynamic market with a wealth of opportunities emerging as its economy diversifies,” said AlJomaih.