Saudi Arabia has replaced its central bank governor, Fahad Al Mubarak, and named Ayman bin Muhammad bin Saud Al-Sayyari as his replacement, according to the state-run Saudi Press Agency.  

Ayman Al-Sayari, who has also been elevated to the rank of a minister, was last June appointed deputy governor for investment and research at the Saudi Central Bank.

Al Mubarak was governor from 2011 to 2016, and was reappointed to the role in January 2021. He was previously chairman and managing director of Morgan Stanley, Saudi Arabia, and has also served as chairman of the Saudi stock exchange, Tadawul.

(Writing by Brinda Darasha; editing by Seban Scaria)