August 21, 2017 / 1:16 PM / a year ago

MOVES-Goldman Sachs hires Saudi investment banking head

DUBAI, Aug 21 (Reuters) - Goldman Sachs has hired Eyas AlDossari, a former banker at HSBC’s Saudi Arabian unit, as head of investment banking for Saudi Arabia, sources close to the matter said on Monday.

AlDossari, a Saudi national, will start in the role next month, one of the sources said.

Goldman Sachs and HSBC Saudi Arabia declined to comment.

On Sunday Goldman received approval from Saudi’s Capital Market Authority (CMA) to trade equities in the kingdom. The move is part of the U.S. investment bank’s efforts to pick up new business stemming from the Saudi government’s drive to attract foreign capital and diversify its oil-dominated economy.

AlDossari’s most recent position was associate director for investment banking advisory at HSBC Saudi Arabia, according to his LinkedIn page.

HSBC is one of the advisers working on Saudi Aramco’s $100 billion initial public offering, according to sources, a centrepiece of the kingdom’s National Transformation Plan. (Reporting by Tom Arnold; Editing by David Goodman)

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