New CEO for Saudi Arabia's Riyad Bank

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.