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Goldman Sachs has named Omar Alzaim (Linkedin) as CEO of its Saudi operation; Alzaim will retain his role as head of investment banking in the Kingdom, Bloomberg reports citing an internal memo. Alzaim, who joined the firm in 2021 and became a managing director in 2023, succeeds Khalid Albdah, who stepped down in October to lead Neuberger Berman’s Middle East, North Africa, and New Markets division.
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REMEMBER: Goldman Sachs was reportedly the first Wall Street firm to receive a regional headquarters license from the Saudi Investment Ministry. It opened a new office in Riyadh’s King Abdullah Financial District in October, with operations scheduled to kick off in 2025. The bank has advised on several recent major transactions, including Aramco’s USD 11.2 bn secondary offering.
