sign up for our middle east newsletter and follow us middleeast for news on the region citigroup is set to hire one of jpmorgan chase  co’s top bankers in saudi arabia as chief executive officer of its investment banking unit in the kingdom according to people familiar with the matter fahad aldeweesh will replace wassim alkhatib who left to become the head of lazard ltd’s advisory business in the middle east and north africa the people said asking not to be identified because the matter isn’t public aldeweesh’s appointment could be announced in the next few weeks but still needs regulatory approval the people said aldeweesh was most recently ceo and head of investment banking for jpmorgan’s securities unit in the kingdom where he reported to bader alamoudi senior country officer and general manager for the us lender’s banking branch in the kingdom read more the country where bankers’ pay is booming saudi arabia saudi arabia is becoming an increasingly important market for global investment banks the kingdom is embarking on a plan to diversify its economy away from oil by selling stakes in stateowned companies and investing in new industries the country is also trying building its business and finance hub to compete with centers in dubai and abu dhabi