Citigroup Inc. named Majed Al Hassoun investment banking head for Saudi Arabia amid the company's preparation to launch operations in the kingdom in 2018, The Wall Street Journal reported Dec. 6.

Based in Riyadh, Al Hassoun will focus on partnerships with entities in the public sector and with large domestic and international companies. He will report to Saudi CEO Carmen Haddad, the newspaper noted.

Previously, he was a director at Saudi Fransi Capital LLC, the investment banking arm of Banque Saudi Fransi.