Saudi Arabia said to hire HSBC banker to lead privatisation process

Photo: Bloomberg

Saudi Arabia hired HSBC Holdings Plc banker Rayyan Nagadi to set up a privatization unit at the ministry of finance as the kingdom forges ahead with plans to sell state assets, people familiar with the matter said.

Nagadi, previously head of project and export finance at HSBC Saudi Arabia, will advise the ministry on its privatization process and will work closely with the National Center for Privatization, the people said, asking not to be identified as the information hasn’t been made public.

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