Saudi Arabia’s NCB Capital said it has picked a veteran Saudi asset manager, who is a woman as its new CEO. Sarah al Suhaimi, who becomes head of one of the kingdom’s leading investment banks that has $12 billion in assets under management, has worked her way up through the ranks at Saudi financial houses.
Female CEOs are uncommon in Saudi Arabia. Suhaimi comes to NCB Capital after seven years overseeing asset management at Jadwa Investment. Previously, she served five years on the asset management team at Samba Financial Group. She also serves as vice chair of an advisory committee to the regulatory agency of the kingdom’s stock market. Saudi Arabia has numerous restrictions on women that hinder their advancement in the work place, such as religious codes that mandate separate work spaces for men and women.