Company Profile | HSBC Saudi Arabia

Who we are

HSBC ASIA HOLDINGS B.V and SAB incorporated a joint venture to establish the first full-service, independent investment bank in the kingdom of Saudi Arabia licensed under the Capital Market Law as HSBC Saudi Arabia.

HSBC Saudi Arabia, established as a Saudi closed joint stock company headquartered in Riyadh.

Date of CMA license: 19/11/2005 corresponding to 17/10/1426 H

Date of Operation: 27/10/2007 corresponding to 15/10/1428 H

Paid Capital: 500,000,000 SAR

Commercial Registration No: 1010221555 , Date: 23/07/2006 corresponding to 27/06/1427 H

Shareholders (Ownership) Information:

- HSBC Asia Holdings B.V

- The Saudi Awwal Bank

Board of Directors

Majed Najm

Chairman of the Board

Majed Najm started his career at Saudi British Bank “SABB” (currently, Saudi Awwal Bank “SAB”) in 1992 and has diverse experience in leading banking and investment businesses. He has held a number of leadership positions within the SABB and HSBC Group. Some of these positions included Deputy Managing Director Corporate & Institutional Banking, SABB; Chief Executive Officer and Board Member, HSBC Saudi Arabia; General Manager Retail Banking and Wealth Management, SABB; and Head of International, HSBC Middle East (Dubai) and Chief Executive Officer, HSBC Bahrain.

Majed is also a member of the Board of Directors of HSBC Middle East Holdings BV and HSBC Middle East Limited.

Majed received his Bachelor's degree in Management from King Fahad University of Petroleum and Minerals.

Faris AlGhannam

CEO and Board Member

Faris AlGhannam is currently Chief Executive Officer and Board Member of HSBC Saudi Arabia and a member of HSBC Middle East, North Africa and Turkey Executive Committee. Prior to this, Faris was leading the investment banking, capital markets and issuers services business and operations for HSBC in the Kingdom of Saudi Arabia. Before joining HSBC, Faris worked for several years at another banking institution in London, the United Kingdom covering capital markets in the UK and EMEA.

Faris is also an Independent Director of Board and Chairman of the Audit Committee of a leading pharmaceutical manufacturer in MENA region, as well as an Independent Director of the Board of a leading consumers company in the Kingdom and a Board of Director of AlTamayyuz Finance & Accounting Excellence Academy. Faris is a member of the Finance Program Board for College of Business Administration, Prince Sultan University.

Faris holds an MBA from the Jones School of Business at Rice University and a BSc in Accounting from Prince Sultan University (first honors).

Suleman Selim Kervanci

Deputy Chairman

Suleman Selim Kervanci is Chief Executive Officer for the Middle East, North Africa and Türkiye and was appointed to the role in January 2025. Mr. Kervanci started his career with HSBC in 1996 and has held a series of roles across investment banking, client coverage, and capital markets advisory since joining. Most recently, Mr. Kervanci was the Chief Executive Officer for HSBC Türkiye from July 2016. Prior to this, Mr. Kervanci held the roles of Head of Investment Banking responsible for Middle East, North Africa and Türkiye, Head of Global Banking and Investment Banking in HSBC Türkiye, and Head of Trade and Financial Institutions in HSBC Türkiye. Prior to joining HSBC, Mr. Kervanci worked for Alcatel Cable. Mr. Kervanci currently sits on the board HSBC Bank Middle East Limited. Mr. Kervanci is a graduate of Istanbul Technical University, Department of Electrical Engineering and holds a master’s degree in Business Administration from Vrije University in Brussels.

Khalid G. Al-Buainain

Board Member

Mr. Khalid Al-Buainain was appointed to the Board of HSBC Saudi Arabia in January 2019 as Independent, Non-Executive Director.

He has proven management expertise and brings a wealth of experience. He has held a number of senior managerial roles in different companies inside and outside of Saudi Arabia including a number of key positions with Saudi Aramco during the period from 1980 to 2015 as Senior Vice President for the Technical Services Business line, Senior Vice President for Engineering, Capital, and Operations Support, Senior Vice President for Downstream Business Line and Senior Vice President for Engineering Services. In addition, he had assumed board memberships in renowned companies inside and outside of Saudi Arabia as well as participating in their sub-committees. He is also a graduate of Harvard Business School Executive Program.

He received his Bachelor’s degree from King Fahd University for Petroleum & Minerals in 1980.

Saad Abdulaziz Alkhalb

Board Member

H.E. Eng. Saad Abdulaziz Alkhalb was appointed to the Board of HSBC Saudi Arabia in July 2019 as an Independent, Non-Executive Director.

He has proven management expertise and brings a wealth of experience. He previously served as the President of the Saudi Ports Authority and has assumed the role of Vice Minister at the Transport Ministry. In addition, he has held a number of key positions in the Saudi British Bank and a number of senior managerial roles in different companies inside and outside of Saudi Arabia.

He graduated in 1992 and holds a Bachelor degree in Electrical Engineering from King Fahad University of Petroleum and Minerals and has attended advanced management and strategic program from INSEAD.

Abdulhameed AlMuhaideb

Board Member

Abdulhameed AlMuhaideb was appointed to the Board of HSBC Saudi Arabia in March 2020 as Independent Non-Executive Director.

Abdulhameed has been serving in ACWA Power for the last 15 years and currently run the CFO function. For a portfolio of USD 107 billion assets under management, Abdulhameed manages the finance, tax, insurance, investors relations, as well as enterprise business solutions. During his journey within ACWA Power, he handled multiple roles, including Executive Director under Assets Management where he was managing the world largest Concentrated Solar Power project (Noor Energy 950MW) as CEO since 2018. Prior to that, Abdulhameed used to serve as CEO of another renewable project as well as spent 6 years within the corporate finance function. He also served as a Board and committee member in couple of ACWA Power project companies, and its operation arm; NOMAC.

Currently, Abdulhameed serves as a Risk Committee member at Saudi Awwal Bank (SAB) as well as the Audit Committee member of Saudi Tadawul Group. Previously, Abdulhameed also used to serve as an Audit & Risk Committee Member in Savola Group.

Prior to joining ACWA Power, Abdulhameed had served in HSBC being part of the Global Investment Advisory team for two years. Abdulhameed completed his bachelor’s degree in finance at University of Miami, FL. He also holds a master degree (MBA) from Pepperdine University in California. He was also selected and completed KSA Leadership 2030 Program sponsored by HRH Mohammed bin Salman Foundation (MISK).

Tony Cripps

Board Member

Tony was appointed to the Board of HSBC Saudi Arabia in June 2021 as Non-Executive Director.

Tony is a Board Member and Managing Director of Saudi Awwal Bank (SAB), and has worked in banking for more than 30 years, with management roles in institutional banking, treasury, trading and sales businesses, transaction banking, information technology and operations. He was appointed to the Board of HSBC Singapore in 2016. He was also appointed as HSBC Group General Manager in 2016, before joining SAB in May 2021.

Karim Tannir

Board Member

Mr. Karim Tannir was appointed to the Board of HSBC Saudi Arabia in October 2025 as Non-Executive Director.

Karim is the Head of Banking, Middle East, North Africa and Türkiye, having joined HSBC as Vice Chairman of Global Banking MENAT in Feb 2024. In his current role, Karim is responsible for overseeing HSBC’s corporate and institutional client coverage in the region and driving collaboration across HSBC’s global network.

With over 30 years banking and financial markets experience in the region, Karim has advised governments, corporates, financial institutions and SWFs in setting transaction banking and financial framework policies, executing capital markets needs and designing M&A strategies. Over three decades, Karim has led some of the most prominent transactions in the GCC through IPOs, DCM and Advisory mandates.

Prior to joining HSBC, Karim spent 25 years at JP Morgan, most recently as Vice Chair for EMEA Investment Banking Coverage.

Yasser Albarrak

Board Member

Mr. Yasser Albarrak is the Chief Corporate and Institutional Banking Officer since 1 July 2022.

Yasser Albarrak was appointed to lead the corporate and institutional banking sector at Saudi Awwal Bank “SAB” (formally Saudi British Bank “SABB”) owing to his expertise and practical experience in the banking industry in the Kingdom spanning more than 18 years. Yasser joined SABB in 2012 and has held many leadership positions, the most recent being General Manager of Global Corporate and Institutional Banking since May 2019, and Co-Head of Global Banking from 2017 to 2019. Served also as Head of the Public Sector from 2013 to 2017.

He graduated from King Fahd University of Petroleum and Minerals with a Bachelor's degree in Information Systems. He is a Board Member of SAB Invest Company.

Our commitment

Our Commitment

At the Investment Banking Joint Venture between HSBC and SAB, we place the greatest importance on customer satisfaction and as such we are committed to:

- Providing a wide range of superior investment banking services and products,

- Leading the transformation of the Saudi Stock market,

- Be the preferred choice for Corporate Financing Services (Initial Public offerings, M&A and Private Placements),

- Being the leader in Debt Finance & Advisory,

- Providing quality service and best investment advice