Name of member Shares Ownership*
Type of Ownership
Opening Balance (January 2021)
Closing Balance (December 2021)
Percentage Change
Mrs. Sarah Jammaz Al-Suhaimi 0 0 –
Mr. Yazeed Abdulrahman Al-Humaid
(a representative of Public Investment Fund “PIF”)
Direct Ownership
0 0 –
PIF Ownership 120,000,000 84,000,000 -70%
Eng. Khalid Abdullah Al-Hussan 0 0 –
Mr. Hashem Othman Al-Hekail 0 0 –
Mr. Sabti Sulaiman Al-Sabti
(a representative of Public Investment Fund “PIF”)
Direct Ownership
0 0 –
PIF Ownership 120,000,000 84,000,000 -70%
Mr. Yousef Abdullah Al-Benyan 0 0 –
Ms. Rania Mahmoud Nashar
(a representative of Public Investment Fund “PIF”)
Direct Ownership
0 0 –
PIF Ownership 120,000,000 84,000,000 -70%
Mr. Xavier Rolet
(a representative of Public Investment Fund “PIF”)
Direct Ownership
0 0 –
PIF Ownership 120,000,000 84,000,000 -70%
Mr. Mark Makepeace
(a representative of Public Investment Fund “PIF”)
Direct Ownership
0 0 –
PIF Ownership 120,000,000 84,000,000 -70%
*There are no ownership of the board members relatives on shares of the Company.
086
SAUDI TADAWUL GROUP087
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary information
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary information
182 Mr. Al-Gheriri joined Tadawul in 2006 where he held several
administrative and leading positions, until he was appointed as Chief of Regulatory Oversight and Authorization at Tadawul in November 2018. Mr. Al-Gheriri has extensive experience in the financial sector where he has successfully led several roles and responsibilities. Over the past few years, he has successfully led various functions and projects within the Members Relations Department.
Mr. Al-Gheriri holds a Bachelor’s Degree in Computer Information Science from Minnesota State University, USA.
He also has several professional certifications from various respectable institutions.
MR. KHALID ABDULAZIZ AL-GHERIRI Group Chief of Regulatory Oversight and Authorization MR. RAED HAMOUD
AL-BULUWI Group Chief of Internal Audit
Mr. Albuluwi is the Group Chief Internal Audit Officer for the Saudi Tadawul Group and manages a comprehensive program of internal auditing within Saudi Tadawul Group and its subsidiaries (Saudi Exchange, Edaa, Muqassa and WAMID).
He has over 19 years of experience and track record of success in managing a wide spectrum of internal audit services with an aim of providing robust assurance to the Audit Committee and Board of Directors to assist in fulfilling their governance duties. Mr. Albuluwi started his auditing career in 2002 at Riyad Bank where he conducted and managed audits and other relevant engagements (i.e. project management reviews, system implementation reviews, etc.) across the all areas with special focus on Information Technology, Operations, and Cyber Security.
After joining Tadawul in 2011, as the Head of IT and Operations, he progressed to be promoted to the position of Chief Internal Audit Officer in the Saudi Exchange’s Internal Audit Division where he’s been spearheading the continuous improvement of risk management and control processes ever since.
Following the transformation of Tadawul into a holding Group, Mr. Albuluwi took over the role of Group Chief Internal Audit Officer for the Saudi Tadawul Group’s Internal Audit Division.
Mr. Albuluwi graduated from King Fahad University with a B.S. in Computer Engineering and he received various professional certificates in Audit as well as in other professions.
Mr. Albuluwi is a member of the Information Systems Audit and control Association (ISACA) as well as the Institute of Internal Auditors (IIA).
MR. YAZEED ALEIDI Group Chief Risk &
Security Officer
Mr. Yazeed has successfully assumed various management roles in the field of Information Technology, Cybersecurity, Risk Management and Business Continuity.
Mr. Yazeed holds a Bachelor’s degree in Computer Science from King Saud University and Executive Masters of Business Administration from Al Yamamah University. In addition to several Professional and Leadership Certifications from various respectable institutions.
088
SAUDI TADAWUL GROUP089
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary 182 MR. SHAHRUKH QURESHI
Group Chief Financial Officer
Mr. Qureshi joined in March 2018 as Chief Financial Officer.
Mr. Qureshi has over 23 years of experience in strategic financial planning & management, accounting, investment management, company start-ups, mergers & acquisitions and assets liabilities management. Mr. Qureshi holds a Master’s Degree in Commerce from Pakistan. He is a fellow member of The Institute of Chartered Accountants of Pakistan and Institute of Public Finance Accountants.
DR. ROLAND BELLEGARDE Group Chief of Strategy (Acting)
Dr. Bellegarde is currently the Group Chief of Strategy &
CEO Advisor at the Saudi Tadawul Group, He is a Board member of the Securities Depository Center Company (Edaa) and Securities Clearing Center Company (Muqassa) and the Saudi Exchange Company, he was a member of the NYSE-Euronext management Committee from 2007 to 2014 as Group Executive Vice-President in charge of European Equities and Listings. His mandate extended to cover domestic and International Listings, Equity and Index derivatives, Index business development, structured products as well as market operations.
He acted as chairman of SmartPool (Block trading platform), Board member of LIFFE AM, Qatar Exchange, Clearnet SA as well as Interbosla (Portuguese CSD).
Dr. Bellegarde has a PhD degree in Treasury Finance Banking from De La Sorbonne University in France.
MR. ALHASAN ASHRAM Group Chief Operations Officer
Mr. Alhasan joined Group in May 2021, he was appointed as Group Chief Operations Officer. Mr. Alhasan has extensive experience in Information Technology, Cybersecurity and Risk Management. He assumed various Technical, Managerial and Leadership positions in the High-Tech Industry, Commercial Banking and Capital Markets.
Mr. Alhasan holds a B.Sc. degree in Computer Engineering from KFUPM, and an M.Sc. degree in Engineering Management and Leadership from Santa Clara University, California, United State of America. He also has many Professional Certifications from multiple reputable institutions in IT, Security, Risk and Management and Leadership.
MS. MAHA MOHAMMED AL-BESHER Chief Human Resource Officer
Ms. Al-Besher joined Tadawul in May 2018 as Chief Human Resource Officer. She has wide experience in the field of human resources development, support services, corporate communications and leading FinTech initiatives.
Ms. Al-Besher holds a Master’s Degree in HR from the Catholic University of America, USA.
090
SAUDI TADAWUL GROUP091
ANNUAL REPORT 2021
SAUDI TADAWUL GROUP ANNUAL REPORT 2021 GOVERNANCE GOVERNANCE
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance
068
Financial statements
119
Supplementary information
182
Highlights of the Group
006
Chairperson’s statement
014
CEO’s review
016
The IPO
019
A hand on the tiller
023
Operation review
038
Governance068
Financial statements
119
Supplementary information
182 y Internal Audit
1. Overseeing the Internal Audit Department and ensuring its independence in the performance of its tasks, and verifying that there are no restrictions or negative impact on its work.
2. Examining the Company's internal and financial control system and disclosure and information technology systems, ensuring their adequacy for the conduct of the Company's business, and submitting a recommendation to the Board in this regard.
y Compliance
1. Reviewing the findings of the reports of monitoring authorities, and ensuring that the Company has taken the necessary measures thereabout.
2. Ensuring compliance of the Company and its employees with relevant laws and regulations and recommending the appropriate measures in case of non-compliance.
3. Ensuring the effectiveness of procedures followed by the Company to guard against claims, legal proceedings, and risks of non-compliance with relevant laws and regulations.
4. Reviewing proposed contracts and transactions between the Company and Related Parties and expressing the Committees opinion thereabout to the Board.
5. Regularly Examining the report of the chief of the Compliance Division and taking decisions thereabout.
6. Reporting to the Board any issues in connection with what it deems necessary to take action on, and providing recommendations as to the steps that should be taken.