Alastair Wooler Lands at Saudi Aramco as FX Hedging Specialist

Saudi Aramco, the world’s most profitable company, has appointed veteran banker Alastair Wooler as FX and rates hedging specialist. Wooler joins the state-owned oil giant and the world's top oil exporter following more than 20 years in investment banking.

Prior to Aramco, Alastair had spent 14 years at UniCredit, the largest Italian lender, where he held several senior FX roles. Most recently, he was the global FX business manager, responsible for the day-to-day operational management of foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term activities. This included regulatory and other initiatives in cash and derivatives products.

Wooler had originally joined UniCredit in 2005 to develop and execute their rates and FX risk hedging strategies for financial sponsors. He was then promoted to deputy head of FX structuring, where he arranged first FX-linked bonds and certificates for UniCredit in Italy. He was also tasked with expanding their FX notes business in Germany and Austria.

Aramco takes the top spot for the biggest IPO

Italy’s biggest lender has recently unloaded the majority of its stake in the online broker FinecoBank to raise over $1.3 billion as it seeks to free up more capital. UniCredit had already sold a 26 percent stake in the unit back in 2016, just as its CEO Jean Pierre Mustier started a strategic in-depth review in an attempt to boost capital and improve profitability. The two-phase sales netted over €880 million.

Earlier in his career, Alastair worked as a corporate liability structurer at Deutsche Bank AG for more than five years, focusing on interest rates and FX for British and Swiss clients. Other stops include serving as FX exotic options structurer at Global Financial Markets, as well as fixed-income research assistant at Lehman Brothers, part of a lengthy career dating back to 1992.

In his new role with Saudi Arabia’s oil giant, he will be responsible for analysis, monitoring, and hedging of FX market risks. He will also assess market exposures, perform quantitative and qualitative analyses on positions and risks of the respective portfolios, and report the findings to Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term.

Saudi Aramco initial public offering (IPO) was the biggest business event that hit public markets around the world in 2019. The biggest ever public offering values the company at $2 trillion. It has raised $25.6 billion as Saudi Arabia is seeking to diversify its economy away from oil by investing in non-energy industries.