Kingdom Holding Company (KHC), the investment vehicle of Saudi Prince Alwaleed Bin Talal Bin AbdulAziz AlSaud, has named Mohammed Fahmy as its new chief financial officer.

Fahmy replaces Shadi Sanbar, who is retiring from his position on December 31 to act as senior financial advisor to Prince Alwaleed.

Sanbar will remain as a non-executive member of the Board of Directors of KHC and board member to other KHC associates namely Four Seasons Hotels and Resorts and Fairmont Hotels and Resorts Inc. Holding Limited, said a statement from KHC.  

Fahmy had been serving as the company’s deputy CFO since March. A veteran with 18 years of progressive track record of achievements, Fahmy first worked as a corporate banker and then became an investment banker for 13 years in different regional and international banks.

He also worked as a CFO for a combined period of 5 years before joining KHC, it added.

In addition, KHC also appointed Dr Adel Alsayed the executive director for International and Private Equity as a KHC board member effective January 15.

Dr Al Sayed has more than 25 years’ experience in financial advisory and private equity investments. His last position was as the CEO of an Bahrain-listed investment company, said the statement.-TradeArabia News Service