Japan's top investment bank Nomura has named Khaled al-Khattaf as chief executive officer for Saudi Arabia to expand its business in the kingdom. He previously served as chief financial officer at Tadawul, Saudi Arabia's bourse.

Khattaf will be responsible for developing Nomura's business in the kingdom, including investment banking, capital markets and wealth management, Nomura said in a statement.

The Japanese firm, which bought units of failed Lehman Brothers in Europe and Asia, said this week it hopes its newly launched US equity research desk will win market share by offering clients research on US companies.

"Khaled is an outstanding addition to our senior management team,"said Philip Lynch, chief executive officer of Asia, Japan and Middle East at Nomura.

"Under Khattaf's leadership, we look forward to further developing our Saudi business," he added.

Khattaf said he saw significant opportunity for Nomura in Saudi Arabia due to "its highly differentiated offering and unparalleled access to Asian and global markets."

Before joining the Tadawul, Khattaf worked for almost 20 years at the Saudi Arabia Monetary Agency (Sama), where he also held the position as assistant director at the investment management department, running investment portfolios.-Reuters