Business

Goldman Sachs' MENA CEO Younan to retire: memo

Goldman Sachs' head of Middle East and North Africa (MENA), Wassim Younan, who built the U.S. bank's business in the region, is retiring after nearly three decades with the Wall Street bank, according to a memo seen by Reuters.

FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney
FILE PHOTO: A sign is displayed in the reception of Goldman Sachs in Sydney, Australia, May 18, 2016. REUTERS/David Gray

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DUBAI: Goldman Sachs' head of Middle East and North Africa (MENA), Wassim Younan, who built the U.S. bank's business in the region, is retiring after nearly three decades with the Wall Street bank, according to a memo seen by Reuters.

Younan, 58, came to the region in 2006 and oversaw the expansion of Wall Street bank's presence and franchise in MENA with offices in Dubai, Doha and Riyadh.

Goldman has advised some of the top deals in the region such as Saudi Aramco's US$29.4 billion initial public offering last year and the merger of Saudi Arabia lenders, National Commercial Bank and Samba Financial Group.

Goldman named Fadi Abuali and Zaid Khaldi as co-chief executive officers of the U.S. bank for the MENA region, effective Jan. 1, a separate memo said.

(Reporting by Saeed Azhar, editing by Louise Heavens)

Source: Reuters