New CMA chief vows to advance Saudi capital market development

RIYADH — Newly appointed Capital Market Authority (CMA) Chairman Mazen Al-Sudairi has pledged to continue efforts to develop and expand Saudi Arabia’s capital market in line with the leadership’s aspirations and the Kingdom’s economic development goals.Al-Sudairi expressed his gratitude to Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman following the issuance of a royal order appointing him chairman of the CMA board with the rank of minister.He said he was deeply honored by the royal trust placed in him and pledged to work toward fulfilling the leadership’s aspirations and serving the Kingdom.The royal order appointing Al-Sudairi was issued on Thursday. He succeeds Mohammed El-Kuwaiz, who was relieved of his post.Al-Sudairi takes the helm of the Kingdom’s capital market regulator at a time when the Saudi financial market is undergoing rapid expansion, with efforts focused on deepening the market, developing financial instruments, broadening the investor base and strengthening links with global markets.The appointment comes as Saudi Arabia seeks to attract greater foreign investment and enhance the role of its capital market in financing economic growth and private-sector development under Saudi Vision 2030.Al-Sudairi brings extensive experience in financial markets, investment research and government work.Since 2024, he has served as an adviser at the General Secretariat of the Council of Ministers at the excellent grade, adding government and policymaking experience to a career largely built in financial markets and investment.He holds a master’s degree in finance from the Institut des Hautes Études de l'Entreprise in France and a bachelor’s degree in industrial engineering from King Saud University.Before entering government service, Al-Sudairi held several senior positions in Saudi financial institutions.He served as head of research at Al Rajhi Capital, where his work involved analyzing companies, sectors and economic and financial developments affecting investment decisions.He also headed sell-side research at Alistithmar Capital and previously worked at Samba Capital as an analyst covering the energy and petrochemical sectors, two areas that play a major role in the Saudi economy and capital market.His professional experience also extends internationally. Al-Sudairi worked in equity research at Bank Degroof in Belgium, giving him exposure to European financial markets and international approaches to company and market analysis.His career combines financial and economic analysis, investment research and policymaking experience, positioning him to lead the CMA as Saudi Arabia seeks to deepen its capital markets and increase their contribution to economic diversification.