We have been following developments with the Aramco IPO, the pre-budget statement and new appointments at Al-Rajhi and SAMA. Click below for more details on these stories.
New CEO for Saudi Arabia's Riyad Bank
Saudi Arabia's Riyad Bank announced on 19 September that it had appointed Abdulmajid Abdulla al-Mubarak to replace Talal al-Qudaibi as its CEO with effect from 31 October.
Mr. Mubarak had been Deputy CEO since September 2014. He had previously worked for Riyad Bank in a number of roles from 1991 until 2013.
The outgoing CEO, Talal al-Qudaibi, who is retiring, is one of the longest serving bank CEOs in the GCC, having taken up that position in 2002.
Riyad Bank was the fourth largest bank in Saudi Arabia at the end of 2015 (after National Commercial Bank, al-Rajhi and Samba), with equity of $9,745mn and assets of $44,555mn.
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We are delighted to welcome Spector Constant & Williams (SCW) as one of our newsest corporate members. SCW is a newly-established London-based law firm whose staff have decades of experience. The photo is of George Constant, who will be the firm's main contact with the ABA
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We are welcoming ODDO BHF, the German investment bank and asset manager; TLT Sollicitors, and Spector Constant and Williams sollicitors.