Alwaleed's Kingdom Holding names new CFO

Mohammed Fahmy will replace Shadi Sanbar who is retiring from the position this month

Saudi billionaire Prince Alwaleed bin Talal, the owner of Kingdom Holding.

Saudi billionaire Prince Alwaleed bin Talal, the owner of Kingdom Holding.

Kingdom Holding, the investment vehicle of Saudi Arabia's Prince Alwaleed bin Talal, named Mohammed Fahmy as its new chief financial officer in a statement to the Saudi bourse on Tuesday.

Fahmy replaces Shadi Sanbar, who is retiring from the position on December to act as senior financial adviser to the prince.

He will remain on Kingdom's board of directors, the statement said.

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