DUBAI, July 25 (Reuters) - JPMorgan Chase & Co has appointed Rayan Fayez as the head of its investment banking business in Saudi Arabia, the U.S. investment bank said on Wednesday.
Fayez, who joins from Goldman Sachs in the kingdom, will also take on the role of co-chief executive officer along with Bader Alamoudi, who acts as head of sales and marketing for Saudi Arabia.
Fayez was head of investment banking and chief executive officer for Goldman Sachs in Saudi Arabia prior to his move.
JPMorgan’s Saudi subsidiary provides advisory services, local debt and equity underwriting to clients in the kingdom. It is advising Saudi National Shipping Co on its $1.3 billion acquisition of state oil giant Saudi Aramco’s Vela marine unit
Reporting by Rachna Uppal; Editing by Amran Abocar