Northern Trust has named Kholoud Al Dosari as the country head for the firm in Saudi Arabia.

Al Dosari, who will be based in Riyadh, will oversee the strategic development, business growth and operations of Northern Trust’s asset servicing business in the country.

The firm said that the senior local leadership appointment further underlines its commitment to its clients in the region and the development of its asset servicing business in the Middle East.

Al Dosari served as a non-executive independent board member of Northern Trust Saudi Arabia since 2019.

She has nearly two decades of experience in management consultancy, corporate governance and strategic private equity investments and worked with several family offices, public and private organisations in Saudi Arabia.

Most recently, she was a director at The Financial Academy, the education arm of the Saudi Central Bank and Capital Market Authority.

Before that, she served as an executive director of the CFA Society Saudi Arabia.

Northern Trust head of Europe, the Middle East and Africa (EMEA) Asset Owners James Wright said: “Saudi Arabia is an important strategic market for Northern Trust. Since opening our office in Riyadh in 2013, we have expanded our services and capabilities, and making key appointments with local experts, to support our clients’ evolving needs in this region.

“With Kholoud’s experience and deep understanding of the local market, she is well placed to help us execute our strategy of growth, deepen our relationships and enhance our services to clients.”

Northern Trust began its Middle East operations in 1987. Currently, the firm has 30 employees located across Riyadh and Abu Dhabi.

The team offers a spectrum of solutions to a number of clients, including the largest sovereign wealth funds, central banks, inter-governmental and governmental organisations, asset managers and family offices across the region.

Northern Trust’s EMEA Asset Owners is said to cater to 330 customers with more than $2.54trn in assets under custody.

In November, Northern Trust Asset Management named Alexandra Kovalenko as head of its Swedish branch.