Fadi Abuali, Co-CEO Goldman Sachs Middle East steps down

Global investment bank Goldman Sachs’ co-chief for the Middle East and North Africa (MENA), Fadi Abuali, is leaving the firm after nearly three decades, as confirmed in an internal memo.

Abuali joined Goldman Sachs in 1997 as a Partner & Managing Director, and played a key role in expanding the firm’s footprint in the region.

Beyond MENA, Abuali also held senior roles in Goldman’s asset management division globally, working closely with Marc Nachmann, head of the bank’s asset and wealth management business.

Under his leadership, the bank opened an office in Abu Dhabi in 2023 and became the first Wall Street lender to secure a regional headquarters license in Saudi Arabia. He was instrumental in expanding Goldman’s franchise in the region alongwith co-CEO Zaid Khaldi.

As part of the bank’s push into Middle Eastern private credit, it is relocating London-based Managing Director Deb Dutt to the region. The move follows Saudi Arabia’s Public Investment Fund (PIF) agreeing to anchor a series of Goldman-managed funds focused on private credit and public equity across the GCC. “We’ve set up a private credit fund dedicated to the Middle East that will be originating financings across the board,” said co-CEO Khaldi said.

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Abuali's departure comes at a time of rising competition for top talent in the region. In recent years, several Goldman executives in the region have moved to other global firms, including Neuberger Berman and BlackRock. Earlier in 2024, BlackRock Inc. poached Mohammad Al Fahim, who oversaw Goldman’s Abu Dhabi branch, to head its operations in the UAE, and Khalid Albdah, head of Goldman - KSA and co-head of the regional asset-management arm, leaving late last year for Neuberger Berman.

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Fadi Abuali, Co-CEO Goldman Sachs Middle East steps down

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