Dr. Khalid AlSweilem Appointed Chairman of EFG Hermes KSA

Top-tier investment bank and subsidiary of EFG Holding, EFG Hermes in the Middle East and North Africa has made the announcement about appointing Dr Khalid AlSweilem as EFG Hermes KSA's new chairman. This is another testimony of EFG Hermes' continuous efforts toward consolidating its footprint in the Kingdom and aligning its activities to the Kingdom's Vision 2030.

Dr AlSweilem is today one of the revered personalities in global investment circles who is known for innovative forward-looking financial strategies and for his impressive breadth of experience in leadership. He is also a visiting scholar at the Center for Sustainable Development and Global Competition (SDGC) and the Stanford Long-Term Investing Initiative (SLTI), having established thought leadership under these two auspices in the areas of long-term investment strategies. Perhaps the most noteworthy entry on his illustrious record of service at the Saudi Arabian Monetary Authority (SAMA) is that of Director General-for-Investment, of which a few high leadership posts were held since 1991.

Dr. AlSweilem has a PhD in Economics from the University of Colorado and a Post-Doctoral Fellowship from Harvard University, he has also been a Fellow Expert at Harvard Kennedy School. He is also currently Chief Global Sovereign Funds Advisor at Ninety One Asset Management and Chairman, Ninety One Capital Saudi Arabia; this leadership is also expected to contribute to further new growth and innovation at EFG Hermes KSA under Dr. AlSweilem's tenure.

Mohamed Ebeid, Co-CEO of EFG Hermes, an EFG Holding company, showed his enthusiasm about the appointment,”We are excited to welcome Dr. Khalid AlSweilem as Chairman of EFG Hermes KSA. His extensive experience, paired with his leadership in the field of investment, will be instrumental as we continue to expand our presence in the Kingdom. His vision aligns with our strategic goals, and we are confident that EFG Hermes KSA will play a key role in contributing to Saudi Arabia’s economic development under his guidance”.

Saud Altassan, CEO of EFG Hermes KSA, added, “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”.

Commenting on his new role, Dr. Khalid AlSweilem, Chairman of EFG Hermes KSA, stated, “I am thrilled to join EFG Hermes KSA at such a pivotal time for both the firm and the Kingdom. EFG Hermes’ commitment to Saudi Arabia and its role in driving the country’s financial landscape is outstanding, and I look forward to contributing to the firm’s growth and success. Together, we will foster financial innovation and support the Kingdom’s long-term objectives”.