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Lazard Hires Sarah Al-Suhaimi to Chair Lazard’s Middle East and North Africa Investment Banking Business
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Lazard Ltd (NYSE: LAZ) has appointed Sarah Al-Suhaimi as Chair of its Financial Advisory business for the MENA region, effective upon regulatory approval. This move underscores Lazard's commitment to enhancing its investment banking capabilities in the region, particularly from its Riyadh office, operational since 2010. Al-Suhaimi brings over 20 years of financial service experience, including roles at Saudi Stock Exchange and SNB Capital. CEO Peter Orszag emphasized her leadership will strengthen Lazard's local presence.
Positive
Appointment of Sarah Al-Suhaimi as Chair enhances Lazard's MENA region presence.
Al-Suhaimi's extensive experience in financial services could lead to better client relations and new business opportunities.
Riyadh office strengthening reflects strategic commitment to the regional market.
Negative
Regulatory approval for Al-Suhaimi's appointment may introduce delays in strategic initiatives.
Potential challenges in establishing local operations due to competitive market dynamics.
-- Riyadh office to serve as MENA regional hub --
NEW YORK & RIYADH, Saudi Arabia--(BUSINESS WIRE)--
Lazard Ltd (NYSE: LAZ) announced today that the firm has hired Sarah Al-Suhaimi as Chair of Lazard’s Financial Advisory business in the Middle East and North Africa (MENA), and that she will be appointed Chair of Lazard Saudi Arabia subject to regulatory approval. Her appointment demonstrates Lazard’s growing commitment to serving investment banking clients in the region through its Riyadh office, where the firm has been licensed to provide financial advisory services since 2010.
Sarah Al-Suhaimi to Chair Lazard’s Middle East and North Africa Investment Banking Business (Photo: Business Wire)
“Building on our existing presence in the city, Riyadh is the natural location for our regional hub office, from which we will serve investment banking clients across the Middle East and North Africa,” said Peter Orszag, Chief Executive Officer of Financial Advisory at Lazard. “The appointment of Sarah as Chair is the first step in strengthening our presence on the ground, and given her extensive financial services background, I can’t think of a better leader to represent our business in the MENA region.”
“I am pleased to join Lazard, which is known for its culture of excellence and strong brand globally. I look forward to working with the firm’s international network of advisors to serve domestic, regional and international clients and help grow Lazard’s presence in the region,” said Sarah Al-Suhaimi.
Sarah Al-Suhaimi is a prominent business figure in the Kingdom of Saudi Arabia. She has held a number of senior leadership positions across the financial services industry in Saudi Arabia in the past 20 years, including serving as Chair of the Saudi Stock Exchange (Saudi Tadawul Group) since 2017. She previously served as Chief Executive Officer at SNB Capital and earlier in her career held roles at Jadwa Investment and Samba Capital. Since 2021, she also serves on several boards including those of Saudi Airlines and Saudi Telecom Company, and has been a trustee of the IFRS Foundation since 2019.
About Lazard
Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 41 cities across 26 countries in North, Central and South America, Europe, Asia and Australia. With origins dating to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit www.lazard.com. Follow Lazard at @Lazard
Who is Sarah Al-Suhaimi and what is her role at Lazard?
Sarah Al-Suhaimi is appointed Chair of Lazard's Financial Advisory business in the MENA region and will also chair Lazard Saudi Arabia, pending regulatory approval.
What is the significance of Lazard's Riyadh office?
The Riyadh office serves as Lazard's MENA regional hub, enhancing its investment banking services in the area since its licensing in 2010.
What experience does Sarah Al-Suhaimi bring to Lazard?
Al-Suhaimi brings over 20 years of experience in financial services, having previously chaired the Saudi Stock Exchange and led SNB Capital.
How might Sarah Al-Suhaimi's appointment impact Lazard's business in MENA?
Her extensive network and experience are expected to strengthen client relationships and expand business opportunities for Lazard in the MENA region.
