March 31, 2023

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Saud Al-Tassan has been appointed CEO of EFG Hermes, Saudi Arabia.

Saud Al-Tassan has been appointed CEO of EFG Hermes, Saudi Arabia.

EFG Hermes Holding, its investment bank, today announced the appointment of Saud Al-Tassan as CEO of EFG Hermes Saudi Arabia, a pioneer in emerging and border markets. America Merrill Lynch in Saudi Arabia.

Al-Dasan has more than 15 years of experience, where he has been successful in leading international and local teams in both securities brokerage, sales-side promotion and asset management and purchasing.

Prior to serving at Bank of America, Al-Dasan was CEO of the Swicorp Financial Services Group, which specializes in financial consulting, asset management and direct investment in the Middle East and North Africa region. Al-Dasan worked in a partnership between NCB Capital and Goldman Sachs, where his work focused on mergers and acquisitions, and he also worked on project financing and syndicate loans at Bank Saudi Franchise.

In this context, Kareem Awad, CEO of EFG Hermes Holdings, welcomed South Al-Dasan to the company due to his vast experience in the promotion and writing services sector, and the company has such capabilities so that the team can capture the growing growth opportunities in the sector.

He added that al-Dasan would implement the group’s strategy to expand into the active Saudi market, which is experiencing rapid growth. Middle East and Africa make him the best choice to join the EFG Hermes team. Awad expressed his desire for the group to achieve further success in the Saudi market under his leadership.

For his part, Mohamed Obaid, co-CEO of EFG Hermes Holding’s Investment Bank, said the Saudi market is currently the largest and fastest growing market in the region, with the total market capitalization of the Saudi stock market being “Tadaul”. It is about $ 3.27 trillion, which represents about 215 shares listed on the market in the main index and 25 shares listed on the market in the parallel index. In addition, Saudi Arabia-led GCC markets today account for 7.6% of the MSCI Emerging Markets Index (MSCI) and 1.6% five years ago, and Saudi Arabia alone represents 4.36% of the MSCI Emerging Markets Index (MSCI). On the other hand, the inclusion of the Kingdom in the Financial Times Index (FTSE) of government securities in emerging markets is approaching.
Obeid added that investors are currently focusing on promising growth opportunities in the region, with EFG Hermes pointing out that the time is right to write a new chapter in its growth process in the Saudi market.

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Saud Al-Tasan, CEO of EFG Hermes in Saudi Arabia, said he was proud and pleased to join one of the most reputed financial services companies in the region. He stressed that EFG has been following the growth of Hermes in Saudi Arabia over the past decade and has always been inspired by the depth of market coverage, consulting skills and clear customer commitment. EFG Hermes has established its brand position over the years, and with its track record of emerging and emerging markets (FEM), has become a select consultant for leading international, regional and local companies. Al-Dasan noted that with the growth and deeper growth of Saudi capital markets and the need for more skills in the capital markets, he is confident that no company is better than EFG Hermes in guiding the complex relationship between international capital and local entities. Opportunities.
Al-Dasan said he was pleased to have the opportunity to lead the group’s efforts in Saudi Arabia by working with some of the company’s most talented colleagues. Al-Dassan expressed his desire to join the leadership of EFG Hermes and build a solid foundation and potential for promising business at this exciting stage of the kingdom’s growth and development.

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