EFG Hermes KSA taps new chairman: Our friends at EFG Hermes appointed Khalid Al Sweilem (LinkedIn) as chairman of the firm’s Saudi arm as the investment bank continues to push into the Saudi market, according to a statement (pdf). Al Sweilem wears several hats in tandem with his new role, including chairman of asset management firm Ninety One Capital Saudi Arabia and visiting scholar at Stanford University’s Center for Sustainable Development and Global Competitiveness. His career of over 30 years has also seen him serve as the Saudi Central Bank’s head of investment.

ICYMI- EFG Hermes made a play for the Saudi market in November with the launch of a USD 300 mn Saudi Education Fund, a few months after EFG Holding’s CEO Karim Awad announced the company’s plan to increase its staff in the Kingdom by 30% to 47 employees amid a rush of IPO activities.

What they said: “Dr. AlSweilem’s appointment comes at a critical time for EFG Hermes KSA as we continue to scale our operations and introduce innovative financial solutions tailored to the evolving needs of the Saudi market. His wealth of knowledge and leadership will undoubtedly enhance our ability to deliver world-class financial services across the Kingdom,” EFG Hermes KSA CEO Saud Altassan said.

ALSO- Saudi Enaya Cooperative Ins. Company appointed Nasr Aldin Baba (LinkedIn) as acting CEO for a period of six months, replacing Sultan Abdulrauf (LinkedIn) who resigned in December due to personal reasons, the company said in a disclosure to Tadawul. Baba has upwards of 16 years of experience across a range of sectors and has served as Saudi Enaya’s CFO since August 2024. He was previously CFO at Bcare Ins.

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