Who’s Who: Mohammed Al-Nory, CEO of Tadawul Advanced Solutions

Mohammed Al-Nory
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Updated 06 August 2022
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Who’s Who: Mohammed Al-Nory, CEO of Tadawul Advanced Solutions

Mohammed Al-Nory has been the CEO of Tadawul Advanced Solutions since April 2021, the Saudi Tadawul Group’s subsidiary company that was established during the transformation of the Saudi Tadawul Group to function as its innovation arm.

Al-Nory joined the subsidiary company WAMID to deliver innovative solutions for the financial sector and beyond, by creating value for all market participants.

He has more than 17 years of career experience related to capital markets, banking and technology, where he occupied several notable positions at leading companies in the Kingdom.

In addition to his professional duties, Al-Nory is driving WAMID’s plans and strategy to further develop the Saudi Capital Market by solving market players’ challenges, unlocking the power of technology and data in the Saudi Capital Market, boosting economic growth, and contributing to the success of Saudi Tadawul Group ambitions.

WAMID aims to be the trusted partner for Saudi and regional businesses, enhance the investor experience in the market by advancing technology and the underlying infrastructure, access to data, facilitate the technological infrastructure needed for the introduction of new products and services and build partnerships to drive innovation forward.

Data is one of the key focus areas in WAMID that eventually will support and enable market members and other players to leverage the development of new products and services.

Before working with WAMID in 2014, Al-Nory was the managing director for Securities at SNB Capital for six years, where he successfully introduced a client-based approach to doing business in addition to new products and services, redefining the business strategy and increasing profitability.

He also served as head of corporate banking development and head of affluent segments at NCB before taking on his role as managing director for securities.

Al-Nory holds a bachelor’s degree from King Fahd University of Petroleum and Minerals and a general management program certificate from Harvard Business School.

 


Riyadh emerges as Gulf evacuation hub for wealthy amid regional escalation

Updated 52 min 25 sec ago
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Riyadh emerges as Gulf evacuation hub for wealthy amid regional escalation

  • Saudi capital’s King Khalid International Airport is among the few major airports in the region still operating normally after Iranian missile and drone strikes

RIYADH: Riyadh has become a principal evacuation hub for wealthy residents and senior executives seeking to leave the Gulf amid escalating regional tensions, according to a report by Semafor.

The Saudi capital’s King Khalid International Airport is among the few major airports in the region still operating normally after Iranian missile and drone strikes targeted cities including Dubai and Abu Dhabi over the weekend, as well as locations in Qatar and Bahrain.

With airspace closures elsewhere, stranded executives and high-net-worth individuals have been travelling overland to Riyadh, in some cases undertaking a roughly 10-hour journey from Dubai, in order to board private or commercial flights out of the region.

Citing people familiar with the arrangements, Semafor reported that private security firms have been hiring fleets of SUVs to transport clients to the Saudi capital before arranging chartered aircraft departures.

Those being evacuated include senior figures at global financial institutions as well as affluent individuals who had been in the Gulf for business or leisure.

The surge in demand has sharply increased costs.

Ameerh Naran, chief executive of private jet brokerage Vimana Private, told Semafor that Riyadh is currently “the only real option” for those seeking to exit the region, with private jet charters from the Saudi capital to Europe reaching as much as $350,000.

Alternative routes have narrowed. Security providers initially explored using Oman as an exit corridor, but that option became unviable after reported Iranian strikes on the country’s port infrastructure and a tanker, leaving Riyadh as the most accessible transit point, the report said.

Riyadh’s role marks a notable shift in regional risk perception. In previous years, security concerns — including cross-border Houthi attacks during the Yemen conflict and earlier periods of regional instability — had led many expatriates and business leaders to favour other Gulf cities as transit hubs.

However, Saudi Arabia’s more flexible visa regime, which now allows many nationalities to obtain visas on arrival, combined with the kingdom’s ability so far to keep its airspace open, has reinforced its position as a temporary gateway out of the region.

While some schools have moved to remote learning and certain companies have advised staff to work from home, Semafor reported that daily life in Riyadh has largely continued uninterrupted compared with other Gulf cities that have faced direct attacks.