This senior appointment represents a significant boost to Apex Group’s capabilities in MENA and follows significant development of Apex Group’s business in Saudi Arabia and the wider GCC region. It also signals Apex Group’s intent to be part of the rapid growth and transformation that is taking place in Saudi Arabia. 

Apex FundRock Investment Company was recently licensed by Saudi Arabia’s Capital Market Authority as an investment manager and operator and is relying on Apex Group brand and strong regional franchise to attract attention and increase competition in the fund services industry. 

Apex FundRock is building its business in MENA around financial and fund solutions in addition to corporate services, which includes governance structuring, ESG compliance and investor servicing, amongst others.

Walid Hayeck, the new Managing Director at Apex FundRock holds a Master's Degree from ESCP Business School, Europe, based in Paris where he started his career and he brings with him decades of experience and a proven track record in fund management in the MENA region, including equity long and unconstrained strategies. 

Commenting, Walid Hayeck, Managing Director at Apex FundRock, said: 

“Being licensed to offer comprehensive financial services including ManCo solutions in Saudi is a huge breakthrough for Apex Group, and a strong signal of confidence in the services we provide in the Kingdom, the Gulf and the wider MENA region. 

“I now look forward to further accelerating our growth in this market and offering our clients in KSA one-stop solutions to both global asset managers willing to access the Saudi market, and local managers looking to reach out to the global investors’ community.

“This is a huge opportunity for further international cooperation in this exciting and growing market.”

Zafar Ullah Khan, Apex Group Country Head – Kingdom of Saudi Arabia, said: 

“We are delighted to welcome Walid to the Apex team. His appointment represents another milestone reached following the recent opening of the KSA office. We look to Walid to lead and drive execution as Apex Group continues to expand its presence in the Middle East.”