Saudi National Bank has appointed Mr. Saeed Mohammed Al Ghamdi as the bank’s chairman after Mr. Ammar Abdul Wahed Al Khudairy resigned due to personal reasons, a statement said on Monday.
The bank also appointed Mr. Talal Ahmed Al Khereiji as its Acting Chief Executive Officer, effective immediately.
Al Ghamdi previously served Chairman of the National Commercial Bank (NCB) from May 2018 up until March 2021. That April it merged with Samba Financial Group to become Saudi National Bank. Al Ghamdi took over as its Managing Director and Group Chief Executive Officer, a role he has held for the last two years.
Al Ghamdi began his career in 1987 with the Ministry of Defense and Aviation and moved to Al Rajhi Bank in 1991, where he later assumed several leading positions.
The changes follow a turbulent few weeks in the banking world. Saudi National Bank, which acquired almost 9.9% of Credit Suisse for 5.5 billion riyals ($1.46 billion) last November, had already seen its investment drop by about 80% last week following a forced takeover of the Swiss bank by UBS for $3.2 billion. The outgoing chairman, Al Khudairy said recently the bank would not increase its ownership in Credit Suisse due to regulatory issues.
Image from Saudi National Bank
