Kamco Invest, a regional non-banking financial powerhouse with one of the largest AUMs in the region, has announced the appointment of Mohammed Hamad Al-Faris as Chief Executive Officer for its operations in Saudi Arabia. 

 

Al-Faris joins Kamco Invest Saudi with extensive experience in the financial sector with focus on private banking and wealth management. He has previously held several executive positions in Saudi banks, including Bank Aljazira (BAJ), where he spent nearly a decade and rose to become the Head of the Private Banking & Wealth Management Group. 

 

During his time at the bank, he played a key role in establishing the group and forming a team that manages a diverse and sizable portfolio of clients comprising of HNWIs, family offices, endowments, and corporate entities. During this period, he was collaborating closely with the bank’s investment arm to provide his clients with all types of investment solutions. Al-Faris holds a BS in Electrical Engineering from KFUPM and then earned an MBA in Finance from Kogod School of Business in the US. He also holds several qualification certificates in the field of Wealth Management and Investments.

 

Track record

Faisal M Sarkhou, Group CEO of Kamco Invest and Board Member of Kamco Invest Saudi, said: “Al-Faris’ experience and track record will be an added value to lead the Saudi operation to further contribute towards the implementation of the group’s growth strategy. Saudi is considered a core market for Kamco Invest, which has been operating in the Kingdom for more than ten years. In addition to the Saudi clients we serve, we have successfully attracted regional clients to invest in the Saudi equity market.”

 

Al-Faris said: “Kamco Invest is widely recognised in the local and regional markets as a prominent provider of non-banking financial services, and as one of the biggest asset managers in the Mena region. I’m excited to collaborate with the skilled team both in Saudi and Kuwait to enhance our presence in the Saudi market. We’ll make sure we leverage Kamco Invest abundant resources, long experience and wide reach of its regional network to achieve this goal. We’ll also focus on providing our clients with unique Sharia compliant solutions and attract GCC investments to the local market, especially with the ample opportunities vision 2030 is creating in all economic sectors.”

 

Kamco Invest manages an AUM of around $13.8 billion on behalf of its clients in various asset classes and jurisdictions, positioning it amongst the largest asset manager in the Mena region. It also holds a strong track record with investment banking credentials exceeding $34.7 billion since inception till December 31, 2022 in equity capital markets, debt capital markets and mergers & acquisitions.

 

Kamco Invest Saudi manages the Kamco Saudi Equity Fund with AUM more than SR800 million ($213 million), making it one of the largest funds managed by independent investment companies not affiliated with local banks.-- TradeArabia News Service