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Wassim Al-Khatib Joins Lazard as Chief Executive Officer, Middle East and North Africa Investment Banking
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Lazard Ltd (NYSE: LAZ) has appointed Wassim Al-Khatib as the new Chief Executive Officer of its Financial Advisory business in the Middle East and North Africa (MENA), pending regulatory approval. Al-Khatib will operate from the Riyadh office, which is set to be the regional hub for MENA Investment Banking. Peter Orszag, Lazard's CEO of Financial Advisory, expressed confidence in Al-Khatib's experience and leadership abilities. Previously, Al-Khatib was CEO of Citigroup Saudi Arabia and has significant transaction experience in the MENA region, highlighting Lazard's commitment to expanding its client engagement in this key market.
Positive
Appointment of Wassim Al-Khatib as CEO of MENA Investment Banking signals strategic growth in the region.
Al-Khatib brings extensive experience, previously serving as CEO of Citigroup Saudi Arabia.
Strengthens Lazard’s capacity to serve clients in the MENA region.
Negative
None.
NEW YORK & RIYADH, Saudi Arabia--(BUSINESS WIRE)--
Lazard Ltd (NYSE: LAZ) today announced the appointment of Wassim Al-Khatib as Chief Executive Officer (CEO) of the firm’s Financial Advisory business in the Middle East and North Africa (MENA), and CEO of Lazard Saudi Arabia, subject to regulatory approval. Wassim Al-Khatib will be based in the Riyadh office, which will serve as Lazard’s regional MENA Investment Banking hub.
Wassim Al-Khatib Joins Lazard as Chief Executive Officer, Middle East and North Africa Investment Banking (Photo: Business Wire)
"We are pleased to have Wassim join us as CEO of our MENA Investment Banking business," said Peter Orszag, Chief Executive Officer of Financial Advisory at Lazard. "With his extensive experience and proven track record, Wassim will work alongside MENA Chair Sarah Al-Suhaimi in leading our Riyadh office to continued success and in expanding Lazard’s engagement with clients in the region.”
“Wassim has played decisive roles advising on many important transactions in MENA. He is a talented and well-regarded professional and his appointment means that we now have ample capacity to service our clients in the region,” said Sarah Al-Suhaimi, Chair of Lazard’s Financial Advisory business in MENA.
“I am happy to join Lazard and to lead the Investment Banking and Financial Advisory business in the Middle East and North Africa. Building on the firm’s exceptional depth of expertise across industry sectors and geographies globally, as well as its strong commitment to the MENA region, we are ideally positioned to provide the best possible support to our local clients and to international companies looking to expand in the Middle East and North Africa,” said Wassim Al- Khatib.
Wassim Al-Khatib was previously Chief Executive Officer and a board member of Citigroup Saudi Arabia. He earlier served as Managing Director and Head of Investment Banking at NCB Capital where he participated in and led major market transactions in the Saudi and international markets. Wassim Al-Khatib has also been the Vice Chairman of the Arranging and Advising Committee of Saudi Arabia’s Capital Markets Authority since 2021.
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
