Hamed bin Mohammed Fayez is the new Saudi deputy minister of culture.He was appointed by royal decree issued on Friday.

Fayez has been the head of Retail Banking Group at The National Commercial Bank (NCB) since August 2013 and serves as its executive vice president. He also serves as head of asset management at National Commercial Bank Capital, Private Equity. And he has been a non-executive director at Al-Ahli Takaful Co. since July 17, 2018. 

Fayez is responsible for growing the range of local Saudi, regional and international asset management services that NCBC offers its clients, as well as expanding its money market and global fixed income businesses. 

Before joining NCB in 2013, he served as a chief executive officer at Goldman Sachs Saudi Arabia. 

Fayez graduated from Johns Hopkins University in Baltimore, USA. He had a double major in mathematical sciences and economics and a minor in business and entrepreneurship. 

Since the beginning of his career, he has worked in a number of leading international and local financial institutions, including Credit Suisse Investment banking company, and Merrill Lynch Bank. 

In addition to his main job, he has worked on a number of committees and boards of directors, including the Technical Cooperation Program in the UK and the UAE, the Saudi Media Systems in Riyadh, and the NCB Capital’s Investment Management Company in Dublin, Ireland.

On June 2, 2018, King Salman announced the creation of a new Culture Ministry. The governor of the Royal Commission for Al-Ula, Prince Badr bin Abdullah bin Mohammed bin Farhan Al-Saud, was appointed as its new minister.

For decades Saudi Arabia has combined its culture and information ministries. The Ministry of Culture and Information was renamed the Ministry of Media.