Saudi stock exchange names first female chair

Sarah Al-Suhaimi was elected as chairperson of the Saudi Stock Exchange (Tadawul) on Thursday.

Al-Suhaimi, who is the CEO of NCB Capital, is the first woman to assume this position since the establishment of Tadawul in 2007, the Saudi exchange said in a statement.

Al Suhaimi--a Harvard University alumnus-- before joining NCB Capital, was chief investment officer at Jadwa Investment and a senior portfolio manager at Samba Financial Group. Her father, Jammaz Al Suhaimi, was the head of the Capital Market Authority, the market regulator, until 2006, according to Bloomberg.

Meanwhile, Abdulrahman Al Mofadhi was elected as vice chairman of the board.

Abdulaziz Saleh Al-Furaih and Abdulrahman Al Mofadhi were reelected as board members, representing the Saudi Arabian Monetary Authority (SAMA) and the finance ministry, respectively.

Suhail Abanmi was appointed as a representative of the ministry of commerce and investment.

Sarah Al-Suhaimi, Tariq Al Sudairy, Ali Al Gwaiz, Abdulaziz Hassan were also appointed as representatives of authorized brokerage firms.