Citigroup Saudi Arabia (CSA) is a closed Joint Stock Company (JSC), incorporated in 2017 under commercial register number 1010612164. CSA is wholly owned by Citigroup Financial Products Inc. The paid capital of CSA is SAR 90,000,000.
CSA is licensed by the Capital Market Authority (CMA) with the license number 17184-31 to conduct the following securities business activities: Dealing as Underwriter, and Arranging and Advising. CSA obtained its license on April 25, 2017 and started conducting business on January 22, 2018.
CSA provides a full range of financial advisory services with respect to mergers, acquisitions and divestitures and also advises on public and private projects, joint ventures and strategic alliances and privatization. CSA also advises on debt and equity raising / structuring and restructuring.
The Company is located in Riyadh on the 20th floor of Kingdom Tower, P. O. Box 301700, Riyadh 11372, Central Provence, Kingdom of Saudi Arabia.
Products & Services
Key activities and products offered by Citigroup Saudi Arabia are as follows:
Our Investment Banking unit provides comprehensive financial advisory and capital raising services to top corporations, financial institutions and governments worldwide. Clients receive tailored financial solutions and strategic advisory services on a wide range of M&A transactions and capital-raising activities including mergers, acquisitions, divestitures, financial restructurings, underwriting and distributing equity, and debt.
Citi is the preeminent global investment banking firm as well as the foremost global underwriter in combined equity and debt issuance. We have cutting-edge capabilities across every part of the globe for virtually every financial services product that our clients need. Our bankers are organized into industry, product and regional groups and work closely with our partners in capital markets, sales and trading, research and global relationship banking to offer customized financing strategies for our clients.
This combined expertise allows us to offer the most innovative and comprehensive ideas and solutions in all market conditions by bankers that have in-depth industry knowledge, local market acumen, product creativity and execution expertise.
Capital Markets Origination
Citi's Capital Markets Origination business is the first choice among issuers for their underwriting needs due to our unmatched global footprint, diverse range of products and track record of executing transactions for our clients amidst varying market conditions. Issuers have turned to Citi for inaugural issuances, repeat business and their largest, landmark transactions, demonstrating the structuring and execution expertise to meet client needs.
In the equity capital markets over the last year, Citi has led the market both in terms of proceeds raised and innovation in the capital markets. Citi pioneered the development of tapping the equity markets for private equity capital; currently leads the SPAC market, having raised the two largest SPACs ever in the U.S. and Euro markets; and is a leader in developing alternative capital formats, notably and recently with sovereign wealth funds and hybrid execution formats, mixing private and public marketing efforts to achieve the largest financing packages ever.
Citi is the clear choice for debt capital markets transactions based on our continued underwriting leadership in transactions across a broad range of currencies and markets, displaying consistent dominance and success in navigating challenging fixed income conditions.
Our Capital Markets Origination business is organized around four major regions: the Americas, Europe/Middle East/Africa, Asia Pacific and Japan, and works seamlessly to provide our clients with the highest quality advice, the most innovative solutions and the best execution globally and locally.
Citi Research focuses on delivering the highest quality company, sector, economic and geographic insights to our clients globally. The unit includes equity and fixed income research, economic and market analysis and product-specific analysis to help individual and institutional clients navigate a complex global marketplace. Citi Research is committed to maintaining the highest level of independence and objectivity in its proprietary products and insights.
Markets and Securities Services
Markets & Securities Services provide world-class solutions that are as diverse as the needs of the corporations, institutions, governments and individual investors we serve in 160 countries and territories. The breadth, depth, and strength of our underwriting, sales and trading, and distribution capabilities span asset classes and currencies, sectors and industries, covering a vast array of products. On trading floors located in over 80 countries and jurisdictions, we work around the clock to enrich the relationships, products, liquidity and technology that define our market-making presence in North America, Asia, Europe, the Middle East, Africa and Latin America.
Board of Directors
Mr. Alberto Verme
Chairman of the Board of Directors
Mr. Alberto Verme is the Global Chairman of Citi's Institutional Clients Group (ICG). Prior to his current position, Alberto has held significant prominent leadership roles within Citi. From 2009 to 2011, he was CEO of EMEA, leading 18 emerging market countries in CIS, Central & Eastern Europe, Turkey and Middle East.
From 2004 to 2009, Alberto led Global Investment Banking division and served as a member of the Institutional Clients Group Management Committee and Investment Banking Operating Committee. His banking career also included leading Citi's Global Energy, Power and Chemicals franchise from 2001 to 2004.
Alberto joined Salomon Brothers in 1994 and worked as Head, and later Chairman, of Citi's Latin America Investment Banking Group through 2001. Prior to 1994, he worked for Metallgesellschaft AG as President of MG Global Capital in London. From 1984 to 1992, he worked for The First Boston Corporation, where he served as Director and Head of Spain from 1990 to 1992 and Co-Head of Emerging Markets from 1988 to 1990. Alberto began his career at the World Bank in 1979.
Alberto also serves as Chairman of Citibank A.S Board of Directors in Turkey, is a member of the Boards of Citi's Global Foundation, European Chapter of Pro-mujer, and Board of Overseers of Columbia Business School in the United States. A Peruvian national, Alberto received a B.A. in economics from Denison University in 1979 and an M.B.A. from Columbia Business School in 1984.
Mr. Mutlaq Hamad Al-Morished
Independent Board Member
Mr. Mutlaq H. Al-Morished is the Chief Executive Officer, CEO of TASNEE. Prior to his present post, he was Executive Vice President of Corporate Finance, (CFO) at SABIC, Vice President of Metals SBU, EVP Shared Services, and President of SADAF and HADEED. In addition, Mr. Al-Morished was Chairman of the Board of YANSAB, SABIC Capital, SAUDI KAYAN, SABIC Captive Insurance Limited and Alinma Investment Co. Mr. Al. Morished was board member of Gulf Bank in Bahrain & the Advisory Board for Economic Affairs of the Supreme Economic Council.
Mr. Al Morished also serves as board member of General Organization of Saudi Arabian airlines, Alinma Tokio Marine (ATMC), Aluminum Bahrain (ALBA), Gulf Petrochemical & Chemical Association (GPCA) and Chairman of the board of National Metal Manufacturing & Casting Co. (Maadaniyah).
Mr. Al-Morished holds an M.B.A. degree from Stanford University, a Master of Science degree in nuclear engineering from Princeton University, and a Bachelor of Science degree in nuclear physics & mathematics from the University of Denver.
Mr. Omar Almohammady
Independent Board Member
Mr. Omar Almohammady was appointed as the CEO of BATIC Investments & logistics in December 2016. Prior to his role at BATIC, Mr. Almohammady acted as an independent advisor collaborating on various transactions and was the CEO of Goldman Sachs Saudi Arabia. Omar has also served as Executive Director in Private Equity and Direct Investments at MerchantBridge, and Head of KSA Investment Banking in Barclays Capital. Mr. Almohammady started his career with Saudi Aramco, in Corporate Planning / Oil & Energy Outlook in 2004.
In addition to his current position, Mr. Almohammady is also a Board Member of Batic Investments & Logistics.
Mr. Almohammady has a Bachelor of Engineering degree in chemical engineering and economics with a minor in mathematics from Vanderbilt University in the U.S.
Mr. Atiq Ur-Rehman
Mr. Atiq Ur-Rehman was appointed as Citi's Chief Executive Officer for the Middle East in 2009. In 2013 his responsibilities were expanded to North Africa and in 2015 Sub-Saharan Africa. Prior to moving to the Middle East, Atiq held several senior positions at Citi, mostly based out of London. These included the Head of Loan Syndications for Europe, Middle East & Africa (EMEA), the Co-Head of Capital Markets in EMEA, the Global Head of Emerging Markets Debt Business and the Global Co-Head of Loans and Leveraged Finance.
During his 34-year career at Citigroup, Atiq has worked on some of the most prominent transactions in the Developed and Emerging Markets around the world. These include ground breaking acquisition financings, several large and high profile corporate restructurings and infrastructure financing transactions. Atiq holds an M.B.A. from Quaid-e-Azam University Islamabad.
Mrs. Carmen Haddad
Mrs. Carmen Haddad is the Chief Country Officer of Citi Saudi Arabia and has been the Citi Saudi Arabia Business and Governance Head since December 2016. Carmen joined CPB Middle East in January 2000 and has held several senior client coverage and management roles. She began her career in 1993 at JP Morgan Chase in London in the Asset Management Division after which she worked as a financial consultant at Lehman Brothers until 1997 covering Middle East & North Africa Institutional and Private Clients and subsequently joined Merrill Lynch for 3 years in Private Client Services focusing on U.S. equity trading and alternative investments.
In June 2013, Mrs. Haddad was appointed Co- Chair of Citi Women Network for the UAE and is a Regional Board member of "Injaz Al Arab". Carmen is also an eight-time winner & Hall of Fame member of CPB Chairman's Council. Mrs. Haddad graduated with a bachelor's degree in arts from the University of Richmond.
Mr. Ahmet Bekce
Mr. Ahmet Bekce is the Managing Director, Head of Middle East and North Africa, responsible for management oversight and performance of the corporate and investment banking platform in the Middle East and North Africa at Citi. Prior to his current position, Ahmet was a Managing Director in Capital Markets Origination group and Head of Emerging Markets and Infrastructure & Energy Finance responsible for credit product origination, structuring and distribution (including bonds, syndicated loans, private placements in foreign and local currencies) as well as project advisory and financing in CEEMEA. Ahmet has 26 years of banking experience at Citi.
Ahmet Bekçe holds a B.Sc. degree in mechanical engineering from Bogaziçi University, Turkey, and M.Sc. degree in management & organization from Connecticut State University, U.S.
Majed Al Hassoun
Interim CEO and Head of Investment Banking
Majed Al Hassoun joined Citi in 2017 to head Investment Banking for Citi Saudi Arabia and is the acting CEO of Citigroup Saudi Arabia. Previously, Majed was a Director in the Investment Banking department of Saudi Fransi Capital, the investment arm of Banque Saudi Fransi.
For more than 11 years, Majed has worked on numerous landmark transactions across a wide range of industries, including aviation, agribusiness, food and beverage, retail, real estate, healthcare and diversified industrials. Majed's extensive background in investment banking activities include local and cross-border M&As, initial public offerings, rights issues and debt offerings.
Head of Compliance
Aljohara Aljallal joined Citi in December 2017 to head Compliance for Citigroup Saudi Arabia. Previously Aljohara was the Senior Manager for Regulatory Compliance at HSBC in Saudi Arabia. With more than 12 years of experience, Aljohara has a bachelor degree in business administration, CMA1, CMA2 and CMA advanced AML/CTF compliance.
Chief Human Resource Officer
Saeed Alshehri has more than 14 years of experience in Human Resources and holds his Masters in Human Resource Management. Previously Saeed was the HR services Manager at Chlahoub Group.
Chief Finance Officer
Olukayode Bababunmi joined Citi in 1999 and most recently led the setup of the Saudi Arabia legal entity. His almost 19 years of banking experience spans across Internal Control, Operations and Technology and Finance Functions. Previously, he held roles within the Controllers discipline in Nigeria, including oversight responsibilities for ICAAP and regulatory reporting and was appointed the Country Controller in 2015.
Olukayode is a CFA Charter holder and has a Master's of Business Administration degree. He is also a Fellow Chartered Accountant.