Zaki Alawami: Steering Alinma Investment’s Asset Management to New Heights

Zaki Alawami: Steering Alinma Investment’s Asset Management to New Heights

Zaki Alawami, Chief Asset Management Officer at Alinma Investment Co., is one of the most influential figures in Saudi Arabia’s fast-evolving financial sector. With over 17 years of experience across a wide range of investment management roles, Alawami has transformed Alinma’s asset management division into a leader of innovation, strategic expansion, and diversified financial offerings.

Under his guidance, the company has expanded its suite of investment products, enhanced access to global markets, introduced groundbreaking funds, and strengthened Saudi Arabia’s presence in the global financial arena.

Academic and Professional Foundation

Zaki Alawami’s journey into the financial world began with a solid academic grounding. He earned a bachelor’s degree in finance from King Fahd University of Petroleum and Minerals, one of the Kingdom’s top institutions known for producing leaders in engineering, technology, and finance.

Determined to keep pace with global best practices, Alawami complemented his formal education with a rich portfolio of executive programs in investment and leadership from renowned international institutions. Among his most notable achievements is earning a Certificate of Management Excellence from Harvard Business School, placing him among the elite financial professionals equipped with cutting-edge knowledge in both leadership and investment strategy.

This dual grounding — local expertise paired with global exposure — has been a defining feature of Alawami’s leadership style.

Early Career: Laying the Groundwork

Before joining Alinma Investment, Alawami built valuable experience at major financial institutions such as the Saudi Kuwaiti Finance House and Global Investment House in Riyadh.

These formative roles allowed him to refine his skills in portfolio management, investment strategy, risk assessment, and market analysis. Working in competitive and dynamic environments, Alawami gained firsthand insight into the nuances of regional markets and global investment trends, providing him with the tools needed to lead complex financial operations later in his career.

Rise Within Alinma Investment

Alawami’s career at Alinma Investment Co. marked a turning point, setting him on a path to executive leadership. Starting as a Senior Portfolio Manager, he played a pivotal role in:

• Designing and implementing robust investment strategies tailored to various client needs.
  
• Directing the allocation of assets across multiple classes, including equities, fixed income, multi-assets, and private equity.
  
• Developing clear performance measurement frameworks that sharpened the firm’s investment decision-making processes.
  
• Building pricing and risk models that aligned investments with long-term corporate objectives.
  

His strategic contributions laid the foundation for Alinma’s emergence as a prominent player in Saudi Arabia’s investment landscape.

Leadership in Asset Management

As Head of Asset Management, Alawami oversaw the development, launch, and management of an expansive suite of investment products. These included:

• Public equity funds
  
• Multi-asset investment portfolios
  
• Endowment (waqf) funds tailored for institutional and charitable clients
  
• Fixed income and Sukuk products
  
• Leasing and trade finance instruments
  
• Private equity and venture capital offerings
  
• Specialized money market funds
  

One of his standout achievements was leading the management of the largest endowment fund in the Kingdom, both in terms of the number of constituent funds and the total assets under management.

This success reflected not only Alawami’s technical expertise but also his cultural sensitivity in designing investment products aligned with local and religious values.

Pioneering the Largest Sovereign Sukuk ETF

Among Alawami’s most groundbreaking contributions was his leadership in the creation and launch of the Alinma Saudi Government Sukuk ETF Fund Short Maturity.

This product, which became the largest sovereign Sukuk ETF in the world, amassed assets surpassing $333 million and marked a major innovation in the Islamic finance space.

Sukuk, or Islamic bonds, are critical to Shariah-compliant investment strategies and are increasingly sought by global investors looking to tap into the Islamic finance market. By launching a sovereign Sukuk ETF, Alawami’s team introduced a product that offered investors greater liquidity, transparency, and diversification — transforming how Islamic fixed-income products were accessed and traded.

This innovation positioned Alinma not only as a domestic market leader but also as a pioneer on the global stage.

Chief Asset Management Officer: Driving Strategic Growth

As Chief Asset Management Officer, Alawami’s leadership has focused on several strategic pillars:

• Expansion of Asset Management Activities: By extending Alinma’s reach into new markets and sectors, Alawami has ensured that the firm’s offerings meet the evolving demands of both institutional and individual clients.
  
• Global Partnerships: He has prioritized developing collaborations with international asset managers, enhancing the firm’s global connectivity and allowing clients access to world-class expertise.
  
• Diversification of Asset Classes: Under his leadership, Alinma has significantly broadened its investment universe, offering clients exposure to a mix of traditional and alternative asset classes.
  
• Innovation and Technology: Alawami has championed the integration of cutting-edge financial technologies, ensuring that Alinma remains at the forefront of digital transformation in asset management.
  

Leadership Style and Vision

Colleagues and industry peers describe Alawami as a visionary leader with a pragmatic approach. He combines deep technical knowledge with a collaborative leadership style, fostering a culture of innovation, accountability, and client-centric service.

His commitment to talent development is also notable. Alawami actively mentors emerging professionals within Alinma, building a pipeline of future leaders who are equipped to sustain and expand the firm’s legacy.

At the heart of his leadership vision is a dedication to aligning Alinma’s goals with the broader objectives of Saudi Vision 2030 — the Kingdom’s ambitious blueprint for economic diversification and global competitiveness.

Championing Endowment Innovation

One of the areas where Alawami has made a profound impact is the management of endowment funds, or waqf.

Recognizing the cultural, religious, and social significance of these funds, he has developed specialized investment solutions that ensure long-term sustainability, capital preservation, and responsible growth.

By elevating the management of endowments to a professionalized, strategic level, Alawami has helped channel these vital resources into projects that support education, healthcare, research, and social development across the Kingdom.

Driving the Future of Islamic Finance

Beyond his work in endowments, Alawami’s leadership in Islamic finance more broadly has been transformative. From Sukuk ETFs to Shariah-compliant equity funds, his initiatives have expanded the universe of products available to investors both in Saudi Arabia and internationally.

His focus on innovation has opened the doors for more global capital to flow into the Kingdom’s markets, enhancing liquidity, market depth, and investor confidence.

Recognition and Legacy

While Alawami’s achievements are numerous, his most enduring legacy may be the strategic direction he has set for Alinma Investment. By combining disciplined investment management with a commitment to innovation, he has positioned the firm as a trusted partner for investors seeking performance, diversification, and alignment with ethical and cultural values.

His leadership reflects a unique blend of local insight and global sophistication — a combination that is reshaping the contours of Saudi Arabia’s financial sector.

Conclusion

Zaki Alawami’s career exemplifies the transformative power of visionary leadership in the world of asset management.

Through his stewardship at Alinma Investment Co., he has expanded the company’s horizons, introduced market-leading products, and driven a culture of innovation that resonates across Saudi Arabia and beyond.

As the Kingdom continues its journey toward economic diversification and global financial integration, leaders like Alawami will play a central role in ensuring that Saudi institutions not only keep pace but set new standards on the world stage.

With his expertise, commitment, and strategic foresight, Zaki Alawami stands as a beacon of what’s possible when local leadership meets global ambition.