The appointment last week of Fahd bin Abdullah Al Mubarak as the governor of the Saudi Arabian Monetary Agency (Sama), the kingdom's central bank, was a surprise in several respects and a minor victory for the country's modernisers.
Mr Al Mubarak was given a job that has traditionally been reserved for Saudis who had loyally served their time within Sama's complicated bureaucracy; Muhammad Al Jasser, his predecessor, did three years in the top job, but had previously served a decade in less senior Sama positions.
In contrast, Mr Al Mubarak came direct from the sharp edge of the investment banking business, where he was the chairman and managing director of Morgan Stanley's Saudi business.
Mr Al Mubarak was given a job that has traditionally been reserved for Saudis who had loyally served their time within Sama's complicated bureaucracy; Muhammad Al Jasser, his predecessor, did three years in the top job, but had previously served a decade in less senior Sama positions.
In contrast, Mr Al Mubarak came direct from the sharp edge of the investment banking business, where he was the chairman and managing director of Morgan Stanley's Saudi business.
No comments:
Post a Comment