CFO of Saudi Prince Alwaleed's Kingdom Holding resigns

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The chief financial officer of Saudi Arabian Prince Alwaleed bin Talal’s investment vehicle, Kingdom Holding, is leaving the firm, sources familiar with the matter said, in the first prominent departure since the detention of the firm’s founder.

 

Mohamed Fahmy, who has worked with the company for about five years and is believed to be a close aide of the Saudi billionaire, will leave the firm at the end of February, the sources told Reuters, requesting anonymity because of the commercial sensitivity of the matter.

The sources said the reason for Fahmy’s departure was not clear but it was not related to the detention of Prince Alwaleed, who has been held since November among dozens of officials and businessmen in a government crackdown on corruption.

Kingdom Holding did not respond to a request for comment. (Additional reporting by Saeed Azhar; Editing by Andrew Torchia)

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