From 2017 to August 2026, Mohammed El-Kuwaiz served as Chairman of the Board of the Saudi Capital Market Authority (CMA). During his tenure (which was the longest since the establishment of the CMA), he spearheaded the structural transformation, international integration, and regulatory modernization of the Saudi capital market to become the third largest emerging market and among the top 10 largest capital markets globally. His tenor encompassed the listing of Saudi Aramco, the largest IPO in emerging markets and among the largest in the world. It also included broadening access to market financing for SME's and entrepreneurial firms, development of a debt capital market, launch of a vibrant fintech ecosystem, and developing innovative systems to protect and compensate investors.

Prior to his role in public service, Mr. El-Kuwaiz was the Co-Founder and CEO of Derayah Financial, which became the largest independent brokerage and investment firm in the Middle East. His earlier career roles included management consulting at McKinsey & Company, investment banking and corporate finance at Samba Financial Group, and treasury dealing at Arab National Bank. He has also served on numerous boards and investment committees, including the Saudi Financial Academy (as Chairman), the Public Pension Agency, Bank Albilad, King Faisal Foundation, and Sulaiman AlRajhi Charitable Foundation (the largest private Waqf in the world).

Mr. El-Kuwaiz holds a Bachelor of Administrative Sciences in Law (with Honors) from King Saud University (1998) and an MBA specializing in Finance and Entrepreneurship from New York University’s Leonard N. Stern School of Business (2003). He has also taught securities law at Prince Sultan University, as we all investment and asset management at King Saud University and the Financial Academy.