Saudi PIF hires senior Goldman Sachs banker for investments – sources

This post was originally published on this site

DUBAI (Reuters) – The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has hired a senior Goldman Sachs banker to work on investments, two sources familiar with the matter said.

Eyas Al Dossari, who was head of investment banking for Goldman Sachs in Saudi Arabia, left the bank recently, one of the sources said. Dossari was hired in 2017 from HSBC in 2017, according to his LinkedIn profile.

Bloomberg earlier reported the move. PIF did not respond to a Reuters request for comment and Dossari could not be reached.

Goldman has seen some high profile changes at its Middle East and North Africa business in the last two years.

Its long serving head of the region, Wassim Younan, who built the bank’s business in the region, retired late last year after nearly three decades with the group.

In 2019, Credit Suisse poached Hazem Shawki, a senior Goldman Sachs banker in the region, to head an expanded EMEA emerging market role that included Turkey, Israel and Russia.

PIF, the $400 billion financial engine of Crown Prince Mohammed bin Salman’s economic transformation plans for Saudi Arabia, has been adding senior bankers and debt experts to its team.

It recently hired Fahad al-Saif, chief executive of the Saudi Arabian finance ministry’s debt management centre, as its corporate finance head. It also named Rania Nashar, the former chief executive of Samba Financial Group, as senior adviser to PIF governor Yasir al-Rumayyan.

(Reporting by Saeed Azhar; Editing by Giles Elgood)