Saudi Binladin Group (SBG) has tapped Klaus Froehlich as its new CFO, according to an anonymous source from SBG. Froehlich is reported to take up his new position later this month. Froehlich’s previous roles included positions at Morgan Stanley’s MENA Investment Banking operations and the capital markets business in Germany and Austria. SBG also hired Samer Younis, an executive at Kuwaiti contractor Kharafi National, to join the company’s senior management, according to the same source. The company’s outstanding debt is said to have reached USD30 billion. (Wall Street Journal)