Al-Sudairy new CEO of NBK Wealth Management

Musaad Al-Sudairy
Updated 04 November 2018

Al-Sudairy new CEO of NBK Wealth Management

The board of NBK Wealth Management has announced the appointment of Musaad Al-Sudairy as the chief executive officer of NBK Wealth Management, a subsidiary of NBK Group.
“We are delighted that Musaad has been appointed CEO of NBK Wealth Management,” said Tariq bin Mutlaq Al-Mutlaq, chairman of NBK Wealth Management. “He joined our team in April 2018 and has already been instrumental in leading the launch of NBK Wealth Management’s activities in the Saudi market. We confidently look forward to reaping the benefits of his wealth of expertise and proven track record in the Kingdom’s banking and investment sector.”
Last year, NBK Wealth Management received approval from the Capital Markets Authority of Saudi Arabia (CMA) to operate in the local securities sector after it successfully fulfilled all regulatory requirements. The company is now licensed to offer investment funds management, discretionary portfolios management, deal arranging, advisory services, and custody arrangements.
“I am honored to be at the helm of NBK Wealth Management as we embark on our journey in the Saudi market with a commitment to utilizing the unique technical and financial capabilities of our dedicated professional team to offer our customers a wide array of superior services and unique opportunities,” said Al-Sudairy. “We consider Saudi Arabia as a highly promising growth market and a key element in our strategic expansion plan aimed at increasing our network to three branches in Riyadh, Jeddah and Dammam.”
Al-Sudairy worked at Investcorp, where he was covering the Riyadh market and was responsible for placement and managing key relationships. Prior to Investcorp, he was heading investment banking in Audi Capital after leading a team in the wealth management department. Al-Sudairy started his career at SABB handling corporate relationships in the corporate banking department, where he progressed from an assistant relationship manager to an acting team leader.
Al-Sudairy holds a bachelor’s degree in finance from King Fahad University of Petroleum and Minerals and an MBA from Manchester Business School.
NBK enjoys one of the highest ratings among all banks in the Middle East from the three international rating agencies — Standard & Poor’s (S&P), Moody’s, and Fitch Group.

Marriott hotel, apartments open in Riyadh’s DQ

Updated 21 March 2019

Marriott hotel, apartments open in Riyadh’s DQ

Marriott International and Dur Hospitality this week celebrated the opening of the Riyadh Marriott Hotel Diplomatic Quarter and Marriott Executive Apartments Riyadh, Diplomatic Quarter. The complex is strategically located in the heart of one of the most sought-after areas in the city with easy access to key embassies and major corporate headquarters, and a 30-minute drive from King Khalid International Airport. 

“We are delighted to enhance our footprint in Saudi Arabia with the opening of two strategically important hotels that not only complement each other but also deliver very distinct brand experiences. Saudi Arabia continues to be one of our key markets and we are delighted to further strengthen our partnership with Dur Hospitality,” said Alex Kyriakidis, president and managing director, Middle East and Africa, Marriott International.

The hotel is inspired by Wadi Hanifa, a beautiful desert oasis running through Riyadh. The low-rise hotel resembles the smooth, dry canyon walls that make for a dramatic arrival experience. Once you step inside, the waterways guide the way into the building, ushering guests through the arrival court into the palm-dotted oasis in the hotel’s courtyard. Planted cacti, flowering vines, plentiful blooming desert flora and native date palm trees create a calming ambiance, providing shade from the desert sun. 

The complex is the first five-star full service hotel in the Diplomatic Quarter and features 80 spacious modern rooms, and 140 fully equipped apartments. The deluxe rooms feature modern décor and ample work space, allowing guests to stay connected with in-room technology, including high-speed WiFi and bedside USB outlets. Guests staying in one of the six Premium Suites or the Presidential Suite can enrich their experience in the M Club Lounge offering an international buffet, hors d’oeuvre and local specialties 24 hours a day. 

The Riyadh Marriott Hotel Diplomatic Quarter houses three dining venues, Goji Kitchen — an all-day dining destination, a la carte restaurant Mesquite and Agave Café located in the lobby. The hotel offers multiple recreational areas surrounded by lush greenery. 

Muin Serhan, general manager of Marriott Hotels in Riyadh, said: “The opening of Marriott Riyadh and Marriott Executive Apartments Riyadh Diplomatic Quarter is considered an important milestone in our developing journey in the hospitality field; we are keen to provide a very special experience to our valuable guests whatever they are traveling for — business or leisure.”

He added: “And we are very proud to be part of the new Marriott travel program ‘Marriott Bonvoy,’ built on the belief that travel enriches its members and the world around them. Launching in February 2019, Marriott Bonvoy replaces Marriott Rewards, The Ritz-Carlton Rewards and Starwood Preferred Guest (SPG).”