Saudi's biggest lender National Commercial Bank names acting CEO

Announcement comes after merger deal with Samba Financial Group

  
Image used for illustrative purpose. A Saudi man walks outside the Saudi National Commercial Bank (NCB), after a coronavirus outbreak, in Riyadh, Saudi Arabia, March 18, 2020.

Image used for illustrative purpose. A Saudi man walks outside the Saudi National Commercial Bank (NCB), after a coronavirus outbreak, in Riyadh, Saudi Arabia, March 18, 2020.

REUTERS/Ahmed Yosri

Saudi Arabia-based National Commercial Bank (NCB) has announced the appointment of acting chief executive officer (CEO).

The kingdom’s biggest lender told the Saudi Stock Exchange on Wednesday that Talal Ahmed Alkhereiji will assume his new position on January 1, 2021, following the retirement of Faisal Omar Alsakkaf.

Alsakkaf has recently submitted a request to retire from his post.

“The board of directors expressed their gratitude and appreciation to [Alsakkaf] for his excellent work during his tenure as CEO of the bank,” the lender said.

The announcement comes after the bank entered an agreement to merge with Samba Financial Group to create a new banking heavyweight with assets worth $223 billion.

The bank’s acting CEO holds a Master’s degree in International Business and a Bachelor’s degree in International Economics from Georgetown University in the United States.

He has more than 25 years of experience in the banking and financial sector.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2020

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