Moody's Saudi Arabia Conference
A journey towards economic transformation
In-Person
Venue: Hyatt Regency Riyadh Olaya
Address: Olaya Street, Riyadh, Saudi Arabia, 11433
Agenda
Registration & Networking
Moody’s big picture on emerging markets
- How will Emerging Markets sovereigns manage in a world of higher for longer interest rates?
- How difficult will it be to balance social demands, fiscal consolidation and long-term reform imperatives?
- How resilient is the outlook for the Middle East to global headwinds, social constraints, climate pressures and geopolitical risks?
Networking Break
Prayer Break
How are the Saudi Government’s economic and strategic initiatives impacting Saudi corporates?
- How have non-financial corporates been evolving in terms of sector diversification and credit?
- What are the key growth and credit drivers looking forward given recent trends?
- Are ESG considerations having a measurable impact?
Networking Lunch
ESG & sustainable finance working lunch (Breakout Session)
- How is ESG incorporated in credit ratings?
- What is our outlook for sustainable bonds and the key issuance trends?
- What is Moody’s Second Party Opinions (SPOs) assessment framework?
- What can we learn from our Second Party Opinions case studies?
Confirm cancellation
An error occurred trying to play the stream. Please reload the page and try again.
CloseMoody's Events
close
Stephen is a Managing Director and Global Co-Head of banking. He is co-responsible for global bank ratings and is based in London where he primarily focuses on banks in Europe, the Middle East and Africa (EMEA).
From 2022-2025 he was the Managing Director and Regional Head of EMEA, Stephen also served as the Country Manager for the United Kingdom for Moody’s Ratings. He was responsible for core business strategy, governance and oversight in the EMEA region.
Before relocating to London, Stephen held the position as Global Co-Head of Banking from 2010 to 2022, based in Hong Kong. In this role, he was responsible for global bank ratings with a primary focus on banks across the Asia-Pacific region.
Prior to joining Moody’s, Stephen worked at J.P. Morgan in London, Tokyo and Hong Kong in various senior credit, research and rating advisory positions. From 1990-1996 he was a bank analyst at S&P Global in London and Paris.
Stephen began his career as a banking regulator at the Bank of England. He is a graduate of the University of Oxford, where he studied Philosophy, Politics and Economics.
Jihad Al-Toukhi is Senior Vice President - Relationship Manager & Country Manager for Moody’s Investors Service, based in Riyadh, Saudi Arabia. In this dual role, Jihad manages key MIS relationships in the region, with a mandate to consolidate and grow our business and relevance in KSA and the broader GCC region.Jihad has more than 17 years of experience working in several prominent organizations, including the Saudi Arabian General Investment Authority and Middle East Financial Investment Company. Jihad has also founded businesses in Saudi Arabia and the United Arab Emirates.During his career, Jihad has developed a range of skills in the fields of marketing, customer relationship management and communication. Jihad holds an MBA and a Bachelor of Business Administration from the University of San Diego, California
Matt Robinson manages the Sovereign Risk Group’s Middle East and Africa team producing ratings and research regarding sovereign and supranational creditworthiness in Sub-Saharan Africa and Middle East/North Africa. He is responsible for managing staff located in London, Frankfurt, Dubai and New York.
Matt joined Moody’s in 2007 after a decade of macroeconomic and public policy experience. Prior to managing the Middle East and Africa sovereign ratings team, Matt was the Director of Sovereign Research, responsible for coordinating and contributing to the research produced by Moody’s global team of sovereign risk analysts. Matt previously managed the affairs of the Moody’s Economy.com Sydney office, providing independent economic analysis, data and forecasting and credit risk services to Moody’s Analytics’ worldwide client base. Before joining Moody’s, Matt worked as an economist and policy adviser in a number of public and private sector organisations, including Commonwealth Treasury and the Economic Division of the Department of the Prime Minister and Cabinet in Australia.
Matt received his bachelor of economics from the University of Newcastle(Australia) and his graduate degree from the Australian National University.
Christian Fang is a Vice President and Senior Analyst with the Sovereign and Sub-Sovereign Risk Group at Moody’s Investors Service.
Based in Dubai, Christian serves as lead analyst for a portfolio of sovereigns in the Middle East, Africa and South Asia, including Jordan, Kuwait, Rwanda, Saudi Arabia and Sri Lanka.
He is also lead analyst for the Gulf Investment Corporation and the Islamic Corporation for the Development of the Private Sector, multilateral development banks serving the interests of the Gulf Cooperation Council and the Organization of Islamic Cooperation, respectively.
Christian was formerly based in Singapore covering a portfolio of predominantly Asia Pacific and Eurasian sovereigns and sub-sovereigns.
Prior to joining Moody’s, Christian was a Lead Portfolio Manager for the Monetary Authority of Singapore, where he was responsible for the investment of Singapore’s foreign reserves in European fixed income, global investment-grade credit, and global developed equity markets.
His time with the central bank included a two-and-a-half-year stint in London as its sole in-house investment representative. He also worked in monetary policy operations and macroprudential policy research, and was involved in the negotiation of Singapore’s renminbi swap line with China, as well as banking systemwide stress tests.
Christian holds an honors bachelor’s degree in Economics from the University of Chicago and a master’s degree in Finance from Princeton University.
Saoud Al-Behairi serves as the Chief of Alternative Funding and Consultation at the National Debt Management Center in Riyadh, Saudi Arabia; Saoud’s role is to secure government financing needs through alternative channels to support Vision 2030 initiatives.
Prior to this, Saoud served as General Manager at Fitch Ratings, Riyadh, where he spearheaded the establishment of the Fitch office, obtaining the required authorization from the regulators and achieving the largest market share in the region, which enabled Fitch substantial revenue growth and market share expansion, making Fitch the only international rating agency to join a significant government project, with the Ministry of Municipal, Rural and Housing Affairs.
With a career spanning over 16 years in the financial sector, Saoud’s expertise covers a wide array of domains, including lending and credit risk management for private and listed companies, credit rating, strategy development and implementation, annual planning, financial analysis, regulatory compliance, and relationship building.
Saoud holds a dual Master of Business Administration (Executive MBA) from Aalto-ESADE, a Bachelor of Science in Business Administration from the American University in Washington, D.C.
Graham Taylor is a Vice President – Senior Credit Officer in Moody’s EMEA Infrastructure Finance team, based in London. He is responsible for a portfolio of regulated and unregulated utilities in the United Kingdom. As a senior member of the analytical team, Graham has contributed to and/or coordinated a number of publications, in particular on energy market issues, and is a frequent speaker at investor events. Prior to joining Moody’s in 2015, Graham was City Advisor to Ofwat, the English and Welsh water regulator, through the 2014 Price Review. He was previously an equity portfolio manager at Legal & General, where he managed long-only and long/short funds and was responsible for coverage of UK utilities, transport and leisure, and health care. Graham started his career in the investment banking division of Credit Suisse in New York. He is a graduate of Queen’s University, Canada, and is a CFA charter holder. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 140 analytical sector staff cover more than 1,000 infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating around 416 issuers. The rating agency covers more than11,000 corporate issuers and 135 sovereign nations.
Nitish Bhojnagarwala is an Associate Managing Director with Moody’s Financial Institutions Group. Based in Dubai, Nitish covers a portfolio of large conventional as well as Islamic financial institutions in the Middle East, Africa and Turkey.
Nitish joined Moody’s in 2011, and has led sukuk roundtables and conducted workshops on Banking and Islamic finance at various conferences in the Middle East, Europe and Asia. Nitish has also authored several research pieces, with a focus on regional banking, credit issues and issuer-in-depths for conventional as well as Islamic banks.
Prior to joining Moody’s, Nitish spent five years at Tamweel in the Treasury function. He has also worked for KPMG in the UAE, where he covered financial institutions. Nitish holds an MBA from S P Jain Institute of Management & Research, with a major in Finance (Investment Banking).
Fabrice Susini is the Chief Executive Officer of the Saudi Real Estate Refinance Company (SRC)
- Over 25 years of experience in the banking industry
- Held various functional and operational positions in different financial institutions, managing international teams
- Headed the securitization franchise of BNP Paribas
- Holds an MBA from London Business School, a master’s degree in Banks and Financial Institution’s management from University of Paris-IX Dauphine, and a degree in law from the University of Paris X Nanterre
Ashraf Madani is a Vice President – Senior Analyst with Moody’s Financial Institutions Group. Based in Dubai, Ashraf covers a portfolio of large conventional as well as Islamic financial institutions in GCC. He is also responsible for the Saudi and Bahrain Banking system outlooks. Since Joining Moody’s in May 2017, Ashraf has authored many research pieces focusing on GCC credit, funding and liquidity conditions in addition to issuer in depth research. Before joining Moody’s in May 2017, Ashraf’s Career has been mostly in banking with 15+ years of experience working in international and regional banks like Citi, Arab Bank and First Abu Dhabi Bank. He spent most of his banking career working in the global markets and risk divisions where he developed extensive knowledge on GCC markets. His last position before joining Moody’s has been the Head of FIs and NBFIs Risk for National Bank of Abu Dhabi (FAB now) managing the credit risk for a large portfolio of GCC and international issuers.
Mohammed Ali Londe is an Vice President – Senior Analyst within Moody’s Insurance Group, based in Dubai. He is responsible for Moody’s insurance ratings in the Middle East. Prior to joining Moody’s in 2013, Mohammed worked in the Planning and Performance Management department of Zurich International Middle East. Mohammed’s past experience also includes working with Chartis Middle East (AIG) and as an auditor, within the insurance department of Deloitte Bermuda where along with performing numerous insurance and reinsurance audits, he was seconded to work with Endurance Specialty Insurance Ltd.Mohammed Ali holds a BSc from Oxford Brookes University, UK.
David Staples is a Managing Director at Moody’s in the EMEA Corporate Finance Group based in Dubai. His responsibilities include managing the analytical teams that oversee the ratings of companies based in the Middle East, Turkey, South Africa as well as Russia and the CIS.
David has a Masters degree from The Johns Hopkins School of Advanced International Studies in Washington, D.C. (1984) and a Bachelors degree from the University of Cincinnati (1982).
Rehan Akbar is an Associate Managing Director in Moody’s EMEA Corporate Finance Group, based in Dubai. He currently manages the corporate team responsible for rating coverage of companies in the Middle East, Africa, Turkiye, and the CIS region. Prior to joining Moody’s in 2011, Rehan worked as a credit analyst at Mashreq Capital, focusing on emerging market corporates. He began his career as a software engineer and technology consultant.
Rehan holds a Master’s degree in Management Sciences and Engineering from Stanford University and a Bachelor’s degree in Computer Science from Lahore University of Management Sciences. He is also a CFA charterholder.
Graham Taylor is a Vice President – Senior Credit Officer in Moody’s EMEA Infrastructure Finance team, based in London. He is responsible for a portfolio of regulated and unregulated utilities in the United Kingdom. As a senior member of the analytical team, Graham has contributed to and/or coordinated a number of publications, in particular on energy market issues, and is a frequent speaker at investor events. Prior to joining Moody’s in 2015, Graham was City Advisor to Ofwat, the English and Welsh water regulator, through the 2014 Price Review. He was previously an equity portfolio manager at Legal & General, where he managed long-only and long/short funds and was responsible for coverage of UK utilities, transport and leisure, and health care. Graham started his career in the investment banking division of Credit Suisse in New York. He is a graduate of Queen’s University, Canada, and is a CFA charter holder. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 140 analytical sector staff cover more than 1,000 infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating around 416 issuers. The rating agency covers more than11,000 corporate issuers and 135 sovereign nations.
Julien Haddad is an Associate Managing Director in RRS EMEA. He manages the Ratings Associates supporting FIG, Sovereign and Sub-sovereign teams in EMEA.
Prior to that, he was a Vice President – Senior Analyst in Moody’s EMEA Corporate Finance Group based in Dubai. He was primarily covering a portfolio of oil and gas, chemicals, real estate and investment holding companies located in the GCC, with a particular focus on Saudi Arabia.
Julien holds a Master’s degree in Banking and Finance from the University of Lyon, France and a Master’s degree in Management, Finance and International Business from the University of Bergamo, Italy.
Julien Haddad is an Associate Managing Director in RRS EMEA. He manages the Ratings Associates supporting FIG, Sovereign and Sub-sovereign teams in EMEA.
Prior to that, he was a Vice President – Senior Analyst in Moody’s EMEA Corporate Finance Group based in Dubai. He was primarily covering a portfolio of oil and gas, chemicals, real estate and investment holding companies located in the GCC, with a particular focus on Saudi Arabia.
Julien holds a Master’s degree in Banking and Finance from the University of Lyon, France and a Master’s degree in Management, Finance and International Business from the University of Bergamo, Italy.
Francisco Fonseca is currently Vice President of National Cybersecurity at BitSight. Co-founded AnubisNetworks in 2006 and has served as CEO from January 2006 to August 2019. AnubisNetworks was acquired by BitSight in 2014.
Prior to AnubisNetworks, Francisco Fonseca founded Crashless, a managed services provider specializing in complex Microsoft-based services.
Francisco was Vice President of the National Association of Young Business People (ANJE) and taught at Moderna and Nova Universities.
Francisco attended the “Advanced Program in Entrepreneurship and Innovation Management” from Católica Lisbon; the Advanced Management Program from the Kellogg School of Management and Católica and "PADE - Senior Executives & CEO Program" from AESE. He holds a degree in Management and Computer Science from Minho University.
Stephen is a Managing Director and Global Co-Head of banking. He is co-responsible for global bank ratings and is based in London where he primarily focuses on banks in Europe, the Middle East and Africa (EMEA).
From 2022-2025 he was the Managing Director and Regional Head of EMEA, Stephen also served as the Country Manager for the United Kingdom for Moody’s Ratings. He was responsible for core business strategy, governance and oversight in the EMEA region.
Before relocating to London, Stephen held the position as Global Co-Head of Banking from 2010 to 2022, based in Hong Kong. In this role, he was responsible for global bank ratings with a primary focus on banks across the Asia-Pacific region.
Prior to joining Moody’s, Stephen worked at J.P. Morgan in London, Tokyo and Hong Kong in various senior credit, research and rating advisory positions. From 1990-1996 he was a bank analyst at S&P Global in London and Paris.
Stephen began his career as a banking regulator at the Bank of England. He is a graduate of the University of Oxford, where he studied Philosophy, Politics and Economics.
Jihad Al-Toukhi is Senior Vice President - Relationship Manager & Country Manager for Moody’s Investors Service, based in Riyadh, Saudi Arabia. In this dual role, Jihad manages key MIS relationships in the region, with a mandate to consolidate and grow our business and relevance in KSA and the broader GCC region.Jihad has more than 17 years of experience working in several prominent organizations, including the Saudi Arabian General Investment Authority and Middle East Financial Investment Company. Jihad has also founded businesses in Saudi Arabia and the United Arab Emirates.During his career, Jihad has developed a range of skills in the fields of marketing, customer relationship management and communication. Jihad holds an MBA and a Bachelor of Business Administration from the University of San Diego, California
Graham Taylor is a Vice President – Senior Credit Officer in Moody’s EMEA Infrastructure Finance team, based in London. He is responsible for a portfolio of regulated and unregulated utilities in the United Kingdom. As a senior member of the analytical team, Graham has contributed to and/or coordinated a number of publications, in particular on energy market issues, and is a frequent speaker at investor events. Prior to joining Moody’s in 2015, Graham was City Advisor to Ofwat, the English and Welsh water regulator, through the 2014 Price Review. He was previously an equity portfolio manager at Legal & General, where he managed long-only and long/short funds and was responsible for coverage of UK utilities, transport and leisure, and health care. Graham started his career in the investment banking division of Credit Suisse in New York. He is a graduate of Queen’s University, Canada, and is a CFA charter holder. Moody’s has a leading global Infrastructure Finance franchise, rating some US$2trillion of corporate and project finance securities, representing more than 90% of all public bonds issued globally in the sector. 140 analytical sector staff cover more than 1,000 infrastructure issuers globally. Moody’s EMEA team of 50 specialists is responsible for rating around 416 issuers. The rating agency covers more than11,000 corporate issuers and 135 sovereign nations.