Weekly Geopolitical Report – The Next Generation (May 11, 2015)
by Bill O’Grady
On April 29th, Saudi King Salman announced a set of changes to his cabinet and to the order of royal succession. We believe these changes are very significant, perhaps the most critical since the first royal succession in 1953.
In this report, we will detail the changes announced by King Salman. To put these changes in context, we will provide a short history of the important succession plan that was established in 1964. With this background, we will show how the king’s announcement represents the first change in the program and discuss how these changes could affect the future stability of the kingdom. As always, we will conclude with potential market ramifications.