Goldman Sachs MENA Head Retires
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Wassim Younan will retire from his position after nearly three decades with the bank and seeing its Middle Eastern expansion up close.
Younan, 58, will retire by year-end, according to a report, and his role thereafter will be replaced by co-chief executive officers Fadi Abuali and Zaid Khaldi. The two will continue to retain their existing responsibilities in asset management and investment banking, respectively.
Khaldi will relocate to Dubai and Abuali will stay based in London and split time with the bank’s MENA offices.
Younan’s time with Goldman Sachs saw its expansion in the region since 2006 which included various milestones including the establishment of offices in Dubai, Doha and Riyadh as well as the achievement of key deals such as Saudi Aramco’s record $29.3 billion IPO earlier this year.
Questions & Answers
Q.What roles will Fadi Abuali and Zaid Khaldi take on after Wassim Younan's retirement?
What roles will Fadi Abuali and Zaid Khaldi take on after Wassim Younan's retirement?
Fadi Abuali and Zaid Khaldi will replace Wassim Younan as co-chief executive officers for the MENA region. They will also continue their existing responsibilities in asset management and investment banking, respectively, for the bank.
Q.Where will the new co-chief executive officers for the MENA region be based?
Where will the new co-chief executive officers for the MENA region be based?
Zaid Khaldi will relocate to Dubai, while Fadi Abuali will remain based in London. Abuali will also split his time by working in the bank's MENA offices, ensuring regional presence for both.
Q.What were some notable achievements during Wassim Younan's tenure in the Middle East?
What were some notable achievements during Wassim Younan's tenure in the Middle East?
Under Younan's leadership, Goldman Sachs expanded in the region, opening offices in Dubai, Doha, and Riyadh. Key deals included Saudi Aramco's record $29.3 billion IPO earlier this year, marking significant milestones.
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