Khalid Aljasser joined Arabian Centres as its Chief Executive Officer in May 2016. As the CEO, his mandate is to further expand Arabian Centres’ operations and help transform the modern retail landscape in KSA.
Under his leadership, the leading retail real estate company aims to double its retail offering by 2018. With an excess of 10 malls in the pipeline, Arabian Centres is set to become one the region’s top developers in this category. Currently it operates 19 malls spread across 10 cities in the kingdom.
Prior to the appointment, Mr. Aljasser was the CEO of Bank Albilad, and is credited with the growing the bank’s operations and its emergence as a leading Shariah-based financial solutions provider in the kingdom.
In 2011 when he was chosen as CEO of the year in Islamic Banking, it was a culmination of a career journey along and winding road for Khalid Aljasser. The speed at which Mr. Aljasser rose through the ranks from a management trainee to his present position set a benchmark for other bankers in the Middle East to reach for. He previously served as the Executive Vice President of Riyadh Bank where he spent 12 years in various leadership roles within the bank. Additionally, he also served on the Boards of Bank Albilad, Saudi Travelers Cheque Company, and Qassim Cement Company. Mr. Aljasser holds BA in Finance from King Saud University. And fluent in Arabic, English.
Starting at Riyad Bank 1989, he was hired trainee at the corporate office at the head office then made through the ranks till he was sent to the USA to Chase Manhattan Bank, where he was to grade A manager.
He remained at this level for another 2 years before being selected an Area manager and, from that moment on, the responsibilities kept piling up. Initially in charge of north Riyadh, his territory was expanded to 65% of the city and the surrounding suburbs, plus the north of the country.
Within 2 years Mr. Aljasser was promoted to regional manager, and his career path in Saudi Banking was launched. Over the years, he was held many positions and climbed the financial ladder in the Middle East to dizzying heights, but when he was asked to take over Bank Albilad in 2009, he faced one of the toughest challenges in his career.
He reoriented the management’s focus on retail banking, taking advantage of the bank’s un-leverage network of 72 branches, including 32 branches for ladies. Mr. Aljasser streamlined the operation, restructuring unprofitable un-profitable branches and reconciled the image of Albilad as a pro-active, user-friendly retail bank, with expanded access, products customers were looking for in personal and automotive finance, expanded investment services and, above all, provided great service that delivered the products via the internet.
The results were immediate and tremendous. By the first of December 2011, net profit announced for the year 2010 came to SAR 92 million, compared to a loss of SAR 248.39 million for the same period in the preceding year. The profit for the 1st quarter of 2011, increased 6% to SAR 55.55 million, and the first half of the 2011 recorded SAR 137.10 million, an increase of 61%. The growth progressed beyond 2011 to achieve an increase in the net financial income to 788 million Saudi riyals by the end of 2015, compared to 330 million Saudi riyals in 2011, i.e. an increase by 138%.