Jadwa Investment, a leading Saudi financial group, has appointed industry veteran Tariq Al Sudairy as its new managing director and chief executive officer replacing Ahmed Al Khateeb.

Al Sudairy has 15 years of experience in investment banking, advisory and transactions, having held a number of senior roles in his career, including his most recent position as the head of private equity and investment banking at Jadwa Investment, said a statement from the company.

He has been instrumental to the company’s growth and was involved in formulating and implementing its growth strategies over the years, in addition to leading one of its key units, it added.

Announcing the appointment, chairman Adib bin Abdullah Alzamil said: "Al Sudairy’s broad experience and his proven track record along with his leadership and management capabilities will drive Jadwa Investment’s performance to new heights, develop and expand its portfolio of products and services, and promote further growth and progress of the company."

In his new role, Al Sudairy will be responsible for leading the Jadwa team in executing the company’s growth strategy, and will help guide its future strategies and direction, he added.

Alzamil also paid special tribute to the significant contribution that Al Khateeb had made to the formation and strong growth of Jadwa during its early years.

The chairman said that Al Khateeb’s wise leadership and strong management had made Jadwa one of the region’s leading investment houses, in spite of the many challenges that were encountered over the past seven years.

On his new role,  Al Sudairy said: "Jadwa Investment was supported by a significant team of talented and experienced investment professionals, making them one of the key factors of the company’s success since it was launched in 2007 and resulting in record growth rates and profits."

"The team’s dedicated efforts and their adherence to the highest professional standards forms the basis for maintaining the strong drive of the business and propelling it towards new horizons of excellence," he added.-TradeArabia News Service