JP Morgan Chase has promoted two bankers to senior roles in Saudi Arabia, the bank said in a statement last week, after its top banker in the kingdom left earlier this year to join the central bank.
Rayan Fayez has been named senior country officer for Saudi Arabia, the statement said. He joined JP Morgan from Goldman Sachs in 2012 as investment banking head and co-chief executive of Saudi Arabia.
Fayez replaces Abdulaziz al-Helaissi, who left JP Morgan in the first half of 2013 to take a position at the Saudi Arabian Monetary Agency. His move was part of a wider trend in the kingdom to tap senior executives from leading global financial institutions to run key state entities.Meanwhile, Bader Alamoudi has been named chief executive of JP Morgan’s Saudi Arabian business, the statement said.
