RIYADH: World’s largest asset management firm BlackRock has appointed a board for its business in Saudi Arabia.

Suliman Algwaiz will take over as chairman, BlackRock said in a statement. 

Mohammed Al-Issa, the CFO of Assila Investments, has been appointed as an Independent Non-Executive Board Member.

“I am delighted that BlackRock is taking this next step in the growth of our Saudi business,” said Stephen Cohen, head of EMEA at BlackRock.

“The appointment of two such experienced professionals in Saudi Arabia underscores BlackRock’s commitment to the Kingdom and the opportunity that we see for our business there,” he added.

Other board members include Yazeed Almubarak CEO and managing director of the company, Tarek Mahmoud, chairman of alternative investments in Europe, the Middle East, and Africa, and Ahmed Talhaoui head of EMEA fixed income strategy.