Wassim Younan will retire from his position after nearly three decades with the bank and seeing its Middle Eastern expansion up close.
Younan, 58, will retire by year-end, according to a report, and his role thereafter will be replaced by co-chief executive officers Fadi Abuali and Zaid Khaldi. The two will continue to retain their existing responsibilities in asset management and investment banking, respectively.
Khaldi will relocate to Dubai and Abuali will stay based in London and split time with the bank’s MENA offices.
Younan’s time with Goldman Sachs saw its expansion in the region since 2006 which included various milestones including the establishment of offices in Dubai, Doha and Riyadh as well as the achievement of key deals such as Saudi Aramco’s record $29.3 billion IPO earlier this year.