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[May 10, 2014]
Jadwa Investment appoints Tariq Al Sudairy as CEO, MD [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) The Board of Directors of Jadwa Investment has appointed Tariq Al Sudairy as its new Managing Director and CEO, effective Sunday 11 May 2014.
Al Sudairy has 15 years of experience in investment banking, advisory and transactions, having held a number of senior roles in his career, including his most recent position as Head of Private Equity and Investment Banking at Jadwa Investment. He has been instrumental to the company's growth and was involved in formulating and implementing its growth strategies over the years, in addition to leading one of its key divisions.
In announcing the appointment, Adib bin Abdullah Alzamil, Chairman of Jadwa Investment, paid special tribute on behalf of the company's Board of Directors to the significant contribution that Ahmed Al Khateeb had made to the formation and strong growth of Jadwa during its early years. The Chairman said that Al Khateeb's wise leadership and strong management had made Jadwa one of the region's leading investment houses, in spite of the many challenges that were encountered over the past seven years.
In his new role, Al Sudairy will be responsible for leading the Jadwa team in executing the company's growth strategy, and will help guide its future strategies and direction.
In 2013, Jadwa Investment achieved yet another strong year of growth in profitability and growth in shareholders' equity. Assets under management (AUMs) soared by 48 per cent to SAR 16.3 billion as of December 31 2013, compared to SAR 11 billion in 2012. The company's investment banking division was the most active financial adviser for public market M&A transactions in Saudi Arabia, having advised on four transactions with a combined value exceeding SAR 2.5 billion. Meanwhile, the company's private equity division continued to be very active, with over SAR 3 billion invested across six sectors of the Saudi economy.
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