New CMA chief vows to advance Saudi capital market development

Mazen Al-Sudairi has been appointed the new Chairman of Saudi Arabia's Capital Market Authority (CMA), pledging to advance the development and expansion of the Kingdom's capital market. The royal order appointing Al-Sudairi, who holds the rank of minister, was issued on Thursday, and he succeeds Mohammed El-Kuwaiz.

Al-Sudairi expressed his gratitude for the royal trust and committed to fulfilling the leadership's aspirations and serving the Kingdom. His appointment coincides with a period of rapid expansion in the Saudi financial market. Efforts are focused on deepening the market, developing financial instruments, broadening the investor base, and strengthening international ties.

The move aligns with Saudi Arabia's broader strategy under Vision 2030 to attract greater foreign investment and bolster the capital market's role in financing economic growth and private-sector development. Al-Sudairi brings extensive experience in financial markets, investment research, and government work to the role.

Before his appointment, Al-Sudairi served as an adviser at the General Secretariat of the Council of Ministers. His career includes senior positions at Saudi financial institutions such as Al Rajhi Capital and Alistithmar Capital, where he focused on research and analysis. He also gained international experience in equity research at Bank Degroof in Belgium. His combined expertise in financial analysis, investment research, and policymaking is seen as crucial for leading the CMA during this transformative period for Saudi Arabia's economy.

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I am deeply honored by the royal trust placed in me and pledge to work toward fulfilling the leadership’s aspirations and serving the Kingdom.