Saudi PIF Strengthens Expansion Strategy With Key Appointments

Logo of the Saudi Public Investment Fund (PIF)
Logo of the Saudi Public Investment Fund (PIF)
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Saudi PIF Strengthens Expansion Strategy With Key Appointments

Logo of the Saudi Public Investment Fund (PIF)
Logo of the Saudi Public Investment Fund (PIF)

The Saudi Public Investment Fund (PIF) announced a string of new appointments in its executive team under the framework of an expansion strategy to achieve its goals, as one of the main engines of the Kingdom’s economy.

The appointments announced Tuesday included Yazeed al-Humied, as new Head of the Fund’s Local Holdings Investments and Rashed Sharif, as Managing Director and CEO of the merged entity of NCB Capital and Samba Capital, a key strategic PIF portfolio company.

Leading Saudi financier, Rania Nashar was appointed as Senior Advisor to PIF Governor, Yasir al-Rumayyan. In addition, Fahad Alsaif was named as the new Head of Corporate Finance, Alireza Zaimi appointed to the role of Special Advisor to Rumayyan, and Saad al-Kroud as acting PIF Chief of Staff.

The Fund said that the new appointments aim to support and bolster its ambitious strategy by enhancing the expertise of its executive team.

It described Nashar as a “prominent name in the banking world”, adding that she is the first woman to lead a banking Group in Saudi Arabia as CEO of Samba Financial Group.

She brings more than 20 years of professional experience in the banking industry and assumed various roles in different divisions within Samba, and is a member of various boards including the Saudi Stock Exchange (Tadawul).

Fahad al-Saif was formerly the CEO of the National Debt Management Center and advisor to the Minister of Finance. He and brings more than 20 years of corporate and investment banking leadership experience to the role.

He will become a member of PIF’s Management Committee.

The Fund has an executive management team with extensive experience in various fields, and with the growth of its diversified local and international investment activities, bolstering these experiences will support efforts to achieve the ambitious goals.

“I would like to welcome Rania and Fahad to PIF. As we continue PIFs ambitious strategy they will bring extensive global capital finance and banking experiences to their positions, which will play an integral role in helping accelerate PIF’s growth trajectory,” said Rumayyan.

He also congratulated and thanked “Yazeed, Rashed, Alireza, and Saad for the significant contributions they have made to PIF, and I look forward to continuing to work closely with all of them in their new roles.”

The governor indicated that these appointments are critical to ensuring PIF continues to achieve its ambitious growth trajectory and important mandate on behalf of the people of Saudi Arabia.

The Public Investment Fund (PIF) is one of the world’s largest and most impactful sovereign wealth funds. It is the main engine helping to drive Saudi Arabia’s economic transformation as part of the country’s Vision 2030.

Last week, PIF surpassed the 1,000-employee mark, expanding from an initial 40 employees in 2016.

The Fund has also grown to over $347 billion AUM and has invested a total of $82.9 billion in the Saudi economy during the past four years while contributing to the creation of more than 190,000 new jobs in the country.



4 Factors Behind the Decline of Saudi Stock Market in H1 2025

Two investors monitor the trading screen in the Saudi financial market in Riyadh (AFP) 
Two investors monitor the trading screen in the Saudi financial market in Riyadh (AFP) 
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4 Factors Behind the Decline of Saudi Stock Market in H1 2025

Two investors monitor the trading screen in the Saudi financial market in Riyadh (AFP) 
Two investors monitor the trading screen in the Saudi financial market in Riyadh (AFP) 

Financial analysts and market specialists have identified four main factors driving the decline of the Saudi stock market during the first half of 2025. Speaking to Asharq Al-Awsat, they pointed to heightened geopolitical tensions in the region, ongoing trade disputes and tariffs between the United States, China, and Europe, oil price volatility, and persistently high interest rates. Collectively, these pressures have squeezed liquidity and weighed heavily on market performance.

Despite the downturn, analysts expect the market to gradually recover over the second half of the year, supported by potential global interest rate cuts, stabilizing oil prices, easing economic uncertainty, and forecasts of robust growth in Saudi Arabia’s GDP and the non-oil sector, alongside continued government spending on major projects.

The Saudi stock market recorded notable losses in the first six months of 2025, with the benchmark index retreating 7.25%, shedding 872 points to close at 11,163, compared to 12,036 at the end of 2024. Market capitalization plunged by around $266 billion (SAR 1.07 trillion), bringing the total value of listed shares to SAR 9.1 trillion.

Seventeen sectors posted declines during this period, led by utilities, which plummeted nearly 32%. The energy sector fell 13%, and basic materials dropped 8%. In contrast, telecom stocks advanced around 7%, while the banking sector eked out a marginal 0.05% gain.

Dr. Suleiman Al-Humaid Al-Khalidi, a financial analyst and member of the Saudi Economic Association, described the first-half performance as marked by significant swings. “The index rose to 12,500 points, only to lose nearly 2,000 points before recovering to about 11,260,” he said.

He attributed the volatility to several factors: regional geopolitical strains, oil prices dipping to $56 a barrel, and high interest rates, which constrained liquidity. He noted that financing costs for traders now range between 7.5% and 9%, historically elevated levels.

“The Saudi market posted the steepest decline among regional exchanges despite record banking sector profits, which failed to translate into stronger overall index performance,” he observed.

Looking ahead, Al-Khalidi anticipates three interest rate cuts totaling 0.75 percentage points by next year, which would bring rates down to about 3.75%. “That should encourage a recovery in trading activity, improve liquidity, and support an upward trend in the index toward 12,000 points, potentially reaching 13,500 if momentum builds,” he added.

Meanwhile, Mohamed Hamdy Omar, economic analyst and CEO of G-World, described the downturn as largely expected, citing external pressures and prolonged trade tensions between the US, China, and Europe. “Retaliatory tariffs dampened investor confidence globally, and Saudi Arabia was no exception,” he said.

Lower oil revenues also strained state finances, leading to a budget deficit of SAR 58.7 billion in the first quarter, further tightening liquidity. Trading volumes fell over 30% year-on-year.

Omar pointed out that changes to land tax regulations and heightened regional security risks also weighed on sentiment. Nonetheless, he expects gradual improvement in the second half of 2025, driven by anticipated rate cuts, rebounding oil prices, and continued large-scale public investments.

He stressed the need for vigilance: “Saudi Arabia remains among the most stable markets, thanks to proactive regulation and policies designed to attract foreign capital and bolster investor confidence.”