Al Rajhi Bank said to hire investment banking head

Al Rajhi Bank, Saudi Arabia’s biggest lender by market value, has appointed Sameer Nawaz as head of investment banking at Al Rajhi Capital, Bloomberg reported, citing sources familiar with the matter.

Nawaz will be responsible for building an investment banking team at the securities division of the Islamic lender, as it looks to build its advisory business to capitalize on an anticipated uptick in deals.

Nawaz previously served as co-head of investment banking at Saudi Fransi Capital.