Kamco Invest, a regional non-banking financial company that manages assets for clients that is one of the largest in the region, has announced the appointment of Mohammed bin Hamad Al-Faris as Chief Executive Officer of its operations in the Kingdom of Saudi Arabia.
Al-Faris joins Kamco Invest – Saudi Arabia with extensive experience in the financial sector with a focus on private banking and wealth management. He previously held several executive positions with Saudi banks, including Bank Al Jazira, where he spent nearly a decade becoming Head of the Private Banking and Wealth Management Group. During his time at the bank, he contributed to the establishment of the group and the formation of a work team that manages a diversified and large portfolio of clients that includes high net worth individuals, family offices, endowments, and companies. During this period he was cooperating closely with the investment arm of the bank to provide all kinds of investment solutions to his clients. Al-Faris holds a Bachelor's degree in Electrical Engineering from King Fahd University of Petroleum and Minerals, then he obtained a Master's degree in Business Administration, majoring in Finance, from Kogod College of Business in the United States of America. He also holds a number of professional certificates in the field of investment and wealth management.
Faisal Mansour Sarkhou, CEO of Kamco Invest Group and a member of the Board of Directors of Kamco Invest – Saudi Arabia, said: “We are pleased to have Mohammed Al-Faris join Kamco Invest – Saudi Arabia as CEO, and we are certain that his experience and record of achievements will be an added value to our operations in the Kingdom and will contribute to Executing the group's growth strategy. Saudi Arabia is a key market for Kamco Invest, which has been operating in the Kingdom for more than ten years, as we were able to provide our investment solutions to clients in the Kingdom and attract regional clients to invest in the Saudi stock market.”
Commenting on his appointment, Al-Faris said: “Kamco Invest has built a strong reputation in the local and regional markets as a leading provider of non-bank financial services and as one of the largest asset managers in the Middle East and North Africa region. I look forward to working with the team in the Kingdom and Kuwait to strengthen our position in the Saudi market, taking advantage of the vast resources provided by Kamco Invest in addition to its regional reach. We will also focus on providing investment solutions to our clients that are compatible with Sharia regulations and attracting Gulf investments to the local market, especially with the abundant opportunities offered by Vision 2030 in all economic sectors.”
It is noteworthy that the volume of assets under management at Kamco Invest amounts to about $ 13.8 billion in various asset classes and markets, making it one of the largest asset managers in the Middle East and North Africa region. Kamco Invest has a proven track record of investment banking deals with a total value of more than $34.7 billion from inception to December 31, 2022 in equity capital markets, debt capital markets, and mergers and acquisitions.
Kamco Invest Saudi Arabia manages the Kamco Saudi Equity Fund with assets of more than 800 million Saudi riyals, making it one of the largest funds managed by an independent investment company that is not affiliated with a local bank.
Okaz (Riyadh)