Word: quraishy
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Though Western bankers give Quraishi high marks for learning his craft quickly, he still leans on outside help. Among the 300 staff members at SAMA's central office are currently perhaps a dozen key foreign advisers, including investment strategists on loan from Merrill Lynch, the largest U.S. brokerage house, and Baring Brothers, the venerable British merchant bank that 178 years ago helped finance the Louisiana Purchase. Top-level outside advice also flows in from senior officials of Morgan Guaranty, London's National Westminster Bank and Frankfurt's Deutsche Bank...
...multibillion-dollar investments, Crown Prince Fahd, who oversees most government matters for King Khalid, makes the final decision. For medium-scale transactions of a billion or two, Finance Minister Mohammed Ali Abdul Khail can give the approval. In deals involving no more than a mere $500 million, SAMA Governor Quraishi is empowered to act entirely...
...quiet man with a hint of gray around the temples, Quraishi is somewhat aloof from the press. When asked for an interview, he sometimes demands written questions in advance. If he dislikes what he is being asked, he substitutes his own questions and pens a response...
...contrast, within the close-knit fraternity of international bankers, Quraishi's moods can vary from cold calculation to disarming cordiality. Says a London banker who deals with him often: "When he squints his eyes, you have to watch out. When his eyes twinkle, you know you are doing well...
...private, Quraishi displays the overflowing hospitality characteristic of Saudis. Richard Debs, a managing director of New York's Morgan Stanley investment banking house, recalls the time that Quraishi invited him and his wife on an excursion to the hills north of the Saudi town of Medina, where they picnicked Bedouin-style on rice and lamb among the Nabataean ruins...