Key HSBC role for Al-Tuwaijri

Updated 12 February 2013
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Key HSBC role for Al-Tuwaijri

Mohammad Al-Tuwaijri, regional head of global banking and markets, has been appointed to the board of HSBC Bank Middle East (HBME).
The was announced by the board of directors of HSBC Bank Middle East.
The appointment has received the necessary regulatory approval and is effective immediately.
Mohammad Al-Tuwaijri is also a serving board member of The Saudi British Bank (SABB), HSBC Egypt S.A.E. (HBEG) and HSBC Saudi Arabia Limited (IBSA).
“Having spent two decades serving the needs of clients across the Middle East, Mohammad brings significant operating and strategic experience to the board,” said HBME chairman David Eldon, commenting on the appointment.
“This considerable experience will be invaluable as we continue to grow our business across the region, with a firm focus on Saudi Arabia, Egypt and the UAE,” said the chairman.
Mohammad Al-Tuwaijri joined HSBC in 2010 from JPMorgan, where he was managing director and head of JPMorgan, Saudi Arabia. Prior to this, he spent seven years at SABB in a number of senior roles including group head of treasury and board member of IBSA, deputy treasurer and head of investments and head of risk management.


Saudi minister Al-Falih says Aramco IPO likely in 2019

Updated 25 May 2018
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Saudi minister Al-Falih says Aramco IPO likely in 2019

  • Energy Minister Khalid Al-Falih: “We are ready, the company (Saudi Aramco) essentially has ticked all the boxes. We’re simply waiting for a market readiness for the IPO.”
  • Khalid Al-Falih: “Most likely it will be in 2019 but we will not know until the announcement has been made. All I could say is stay tuned.”

RIYADH: Saudi Arabia is most likely to hold the initial public offering (IPO) of oil giant Aramco in 2019, Energy Minister Khalid Al-Falih said on Friday, confirming a delay from the initial plan to list the company this year.

“The timing I think will depend on the readiness of the market, rather than the readiness of the company or the readiness of Saudi Arabia,” Khalid Al-Falih, who’s also the company’s chairman, said at the St. Petersburg International Economic Forum in Russia on Friday.

“We are ready, the company essentially has ticked all the boxes,” he said. “We’re simply waiting for a market readiness for the IPO.”

For almost two years, Saudi officials said the IPO was “on track, on time” for the second half of 2018. But for the first time in March they suggested it could be delayed until 2019.

“Most likely it will be in 2019 but we will not know until the announcement has been made,” Al-Falih said. “All I could say is stay tuned.”

The Aramco IPO would be a once-in-a-generation event for financial markets. Saudi officials said they hope to raise a record $100 billion by selling a 5 percent stake, valuing the company at more than $2 trillion and dwarfing the $25 billion raised by Chinese retailer Alibaba Group Holding Ltd. in 2014.