CEO Khalid Albdah to exit Goldman Sachs KSA?

Goldman Sachs's Managing Director & Chief Executive Officer in the Kingdom of Saudi Arabia, Khalid Albdah, is reportedly set to resign, according to various news sources.

The resignation, which has yet to be confirmed by both Goldman Sachs and CEO Khalid, is expected to take effect in the coming weeks, according to sources familiar with the situation.

Khalid joined the firm in 2013 as Head of the Asset Management division and quickly advanced, becoming Managing Director and CEO of Saudi Arabia in 2015. In 2020, he was appointed MD & Co-Head of GSAM Institutional Client Business for MENA & New Markets, before assuming his current role as Group CEO and MD for KSA.

Prior to joining Goldman Sachs, CEO Khalid held key roles at the Capital Market Authority, Al Rajhi Capital, and The Saudi Capital Committee. He is also a member of AlTamayyuz Academy. Academically, Khalid holds an MBA in Finance from Johnson & Wales University, a Bachelor's in Accounting from King Saud University, and a Business Administration certificate from the UW Foster School of Business.

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During his tenure, Khalid played a vital role in expanding Goldman Sachs' presence in the region. Recently, the bank received approval from the Ministry of Investment (MISA) to establish its regional headquarters in Riyadh, a requirement for companies with at least 15 employees and state contracts under Saudi law.