Alwaleed’s financial officer quits

Dec

1

2013

The chief financial officer of Prince Alwaleed bin Talal’s investment vehicle, Kingdom Holding, is to leave the firm, sources said.

Shadi Sadeek Sanbar, who has worked with the firm for more than eight years and is seen as a close aide of the Saudi billionaire, will leave the firm at the end of the year, the sources said.

Sanbar, 66, is retiring from the firm and will move with his family to the US, and he will continue to be on Kingdom’s board of directors, they added.

Deputy chief financial officer Mohammed Fahmy Soliman was seen as the most likely candidate to replace him.

Sanbar will be the second senior executive to leave Kingdom in recent months. In June, Ahmed Reda Halawani, the company’s executive director of private equity, resigned for personal reasons, Kingdom had said at the time.

In: News Asked By: [192 Blue Star Level]

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