JPMorgan hires Mohammad Al Tuwaijri as Head of Saudi Arabia

Mr. Al Tuwaijri joins the firm after 12 years at SABB-HSBC, an associated company of the HSBC Group in Saudi Arabia, where he was group treasurer and a board member of HSBC Investment Bank SA. Mr. Al Tuwaijri assumes his new role at JPMorgan in Riyadh today.

At JPMorgan, Mr. Al Tuwaijri will be responsible for building client relationships, setting the strategic direction and providing leadership across the firm's lines of business in Saudi Arabia.

Ghassan Abdul Karim, CEO of the Middle East and North Africa at JPMorgan, said: "We are investing substantially in our long-standing presence in Saudi Arabia where the firm has roots that date back to the 1930s. Mohammad's extensive experience, in-depth knowledge of the Saudi market and client base will build upon our track record in the Kingdom."

Mr. Al Tuwaijri will report to Mr. Abdul Karim.

In June 2004, JPMorgan was one of three institutions to receive the first-ever banking licenses issued to global banks from the Kingdom of Saudi Arabia, reflecting the firm's long-time activity in the country. JPMorgan opened an office in Riyadh in 2006. Recent activity on behalf of clients includes underwriting Riyad Bank's US$500 million inaugural Eurobond and serving as global coordinator for the issue, and arranging Saudi Aramco's flagship US$4 billion revolving credit facility and serving as joint bookrunner and lead arranger for the issue.

Mr. Al Tuwaijri's previous experience at SABB-HSBC includes serving as deputy treasurer, head of investments and head of risk management. He is chairman of the Saudi Treasurers Committee, a professional body, and holds a graduate degree in business from Riyadh King Saud University and an undergraduate degree in aerodynamics from the Air Force Academy.