New CMA chief vows to advance Saudi capital market development

RIYADH — In a royal order issued on Thursday, the Custodian of the Two Holy Mosques King Salman appointed Mazen Al-Sudairi as the new Chairman of the Capital Market Authority (CMA). In his first public statement, Al-Sudairi vowed to continue advancing Saudi Arabia's capital market in line with the leadership's goals and the Kingdom's economic development objectives.

Expressing his gratitude to King Salman and Crown Prince Mohammed bin Salman, Al-Sudairi emphasized his deep sense of honor and commitment to fulfilling the royal trust placed in him. He pledged to work towards the leadership's aspirations and serve the Kingdom diligently.

Assuming the role vacated by Mohammed El-Kuwaiz, Al-Sudairi inherits a rapidly expanding Saudi financial market, with key focus areas including market deepening, development of financial instruments, broadening the investor base, and strengthening links with global markets. The royal appointment underscores Saudi Arabia's broader strategy to attract more foreign investment and leverage its capital market to fuel economic growth and private-sector development under the umbrella of Saudi Vision 2030.

Al-Sudairi brings a robust background in financial markets, investment research, and governmental service. Since 2024, he has worked as an adviser at the General Secretariat of the Council of Ministers, contributing significant government and policymaking experience to his career, which is fundamentally rooted in financial markets and investment.

He holds a master's degree in finance from the prestigious Institut des Hautes Études de l'Entreprise in France and a bachelor's degree in industrial engineering from King Saud University.

Prior to his government role, Al-Sudairi held senior positions in major Saudi financial institutions. He served as head of research at Al Rajhi Capital, where his responsibilities included analyzing companies, sectors, and economic financial developments to inform investment decisions. He also led sell-side research at Alistithmar Capital and worked as an analyst at Samba Capital, specializing in the energy and petrochemical sectors—critical pillars of the Saudi economy and capital market.

His international experience as an equity researcher at Bank Degroof in Belgium further broadened his perspective, offering insights into European financial markets and international investment approaches.

Al-Sudairi's career seamlessly merges financial and economic analysis, investment research, and policymaking expertise, making him uniquely positioned to lead the CMA as Saudi Arabia strives to deepen its capital markets and enhance their role in driving economic diversification.