Altea Partners taps Nawaf AlOtaibi as CEO of Altea Partners Saudi Arabia

London-based merchant bank Altea Partners appointed Nawaf AlOtaibi (LinkedIn) as CEO of its Saudi arm, which is being set up in partnership with a local investment holding company and will operate onshore once regulatory approvals are secured, according to a press release. AlOtaibi joins from BSF Capital, where he most recently headed wealth management.

IN CONTEXT- Altea Partners’ expansion is part of a broader trend of global financial institutions establishing a footprint in Saudi Arabia. HSBC secured a regional headquarters license for its capital markets hub in December, joining Goldman Sachs — the first major bank to do so — Citigroup, Morgan Stanley, and JPMorgan. Barclays is also pushing for a 2026 launch.