APICORP announces Leadership Change
The Arab Petroleum Investments Corporation (APICORP) (www.APICORP.org), a multilateral financial institution, today announced the appointment of Khalid bin Ali Al-Ruwaigh as its new CEO, taking over from Dr. Ahmed Ali Attiga who led the organization over the past five years, during which APICORP successfully navigated an ever-changing business and energy landscape.
Commenting on the appointment of the new CEO, Dr. Aabed Al-Saadoun, Chairman of the APICORP Board said, “The appointment of Khalid bin Ali Al-Ruwaigh marks a new chapter in APICORP’s journey of transformation amidst the shifts in the energy and financial sectors. We are cognizant of the importance, complexity and responsibilities of our developmental mandate, and we will continue to adapt to reflect the changing world around us.”
“The wealth of knowledge and experience Khalid brings, having worked in a broad range of industries, will be instrumental in continuing our strong momentum in support of a balanced approach to the energy transition agenda and sustainable development goals of our Member Countries and wider MENA region,” Dr. Al-Saadoun added.
Speaking on the appointment, Mr. Khalid bin Ali Al-Ruwaigh said, “I am excited to join APICORP and be part of its transformational journey. As a company with a unique mandate which sits at the nexus of the energy and financial worlds, the opportunities for growth are truly vast. I look forward to working with our capable management team, our board, and our shareholders to connect industry stakeholders, develop innovative solutions, and support projects which have a positive, tangible, and lasting impact on the lives of people in our part of the world.”
Khalid bin Ali Al-Ruwaigh holds an MBA from California State University and a Bachelor’s Degree in Information Systems from King Saud University. He joins APICORP from Emirates NBD Capital KSA where he served as Chief Executive Officer since March 2019 and had held several senior and executive roles within the financial sector covering multi-asset classes such as Public & Private Equity, Real Estate, and Fixed Income.
Dr. Aabed Al-Saadoun further noted, “I would like to thank Dr. Ahmed Ali Attiga for his years of service as CEO, successfully leading APICORP during a time of unprecedented challenges brought about by the pandemic and bolstering APICORP’s position as a trusted partner and key enabler of the Arab energy sector.”
Distributed by APO Group on behalf of Arab Petroleum Investments Corporation (APICORP).
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The Arab Petroleum Investments Corporation (APICORP) is an energy-focused multilateral financial institution established in 1975 by the ten Arab oil exporting countries. APCIORP’s mission is to support the sustainable development of the region’s energy sector and related industries through a range of financing and direct equity solutions, as well as energy research and advisory services. APICORP applies best-practice ESG principles across all operations, with environmental and socially-linked projects comprising 13% of its nearly US $4 bn loan portfolio which encompasses leading public and private sector partners in 25 countries. APICORP is also the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA’ by Fitch and ‘AA-‘ by S&P.