Mohammed Abdullah El-Kuwaiz has been named head of the Saudi Capital Market Authority, the Kingdom's market regulator, according to a royal decree issued Thursday evening. 

 

El-Kuwaiz is co-founder of Derayah Financial Corp., and has been its managing director since 2006. He has over a decade of experience in strategy, investments, financial services, and corporate governance. He has also served as a consultant of McKinsey & Company.

 

The new CMA chairman has worked in the field of investment banking at Samba Financial Group in Saudi Arabia and Arab National Bank. He has been serving as vice chairman of the CMA since August of last year. 

 

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