Japan's Mizuho hires GIB banker to head Saudi business

Mizuho Financial Group has named GIB Capital banker Khalid Al Ghamdi as managing director and executive board member at its business unit in Saudi Arabia, Bloomberg reported, citing a company statement.

The step comes as the bank looks to expand in the Kingdom.

Al Ghamdi will be responsible for expanding Mizuho’s operations in areas such as financing, capital markets and advisory.

“The appointment of Khalid represents a significant milestone in the expansion of Mizuho franchise in Saudi Arabia and further indicates our commitment to the Kingdom,” said Hidefumi Takeuchi, head of Mizuho in the Middle East, North Africa and Central Asia.

Al Ghamdi began his career in the UK before moving to Saudi Arabia in 2003, the bank said, adding that his appointment is pending regulatory approval.