Summary
Goldman Sachs Group Inc. is doubling down on its plans for Saudi Arabia in a bet that sweeping economic reforms will draw investors to the kingdom despite a turbulent corruption crackdown.
To help identify such opportunities, the bank is hiring veteran banker Ammar al-Khudairy, who once oversaw Morgan Stanley's operations in the country, he said.
Khudairy will take over in April as the non-executive chairman for Goldman in the country, subject to regulatory approval, and become regional adviser for the Middle East and North African markets.
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