Industry: Banking & Finance
Company: Capital Market Authority
Country: Saudi Arabia
Saudi King Abdullah appointed Al Sheikh as the new chairman
of the kingdom’s capital market regulator, Capital Market Authority (CMA), in
February. The CMA was established as part of reforms aimed at deregulating Saudi
Arabia’s financial services industry and capital markets as the largest Arab
economy considers allowing foreigners to invest on the stock market directly,
rather than under a swap system.
Al Sheikh previously worked at US law firm Latham &
Watkins in Riyadh and as an executive director of the World Bank.
He has experience representing sovereign wealth funds and
government bodies in Saudi Arabia, particularly focusing on mergers and
acquisitions, capital markets and project finance.
Al Sheikh replaced Abdulrahman Al Tuwaijri, who headed up
the Capital Markets Authority since his appointment in 2006.