Citi Saudi Arabia CEO Wassim Al Khatib resigns just a year after joining bank

Citigroup chief executive officer for Saudi Arabia, Wassim Al Khatib, has resigned just over a year after joining the US bank.

Carmen Haddad, vice chairperson for Citi Middle East and country officer for Saudi Arabia, will be acting CEO as the bank seeks to replace Al Khatib, according to a statement.

The bank appointed Al Khatib as its CEO in the kingdom in 2021.

Al Khatib, previously head of investment banking at NCB Capital, was one of the key bankers on the initial public offering of Saudi Aramco in 2019, the biggest ever after raising almost $30bn.