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Khalid Al-Olayan SABB Chairman, Richard Groves Managing Director

Staff writer |
Saudi Arabia - March 11, 2009, Saudi Arabia - The Board of Directors of Saudi British Bank (SABB) appointed Khaled Suliman Olayan as the bank's chairman.

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Mr. Khaled Olayan has a master's degree in business administration, with a major in international projects, from The American University in Washington DC.

Mr. Olayan is one of the most influential figures in the development of the Saudi economy and a leading businessman in the Kingdom.

Mr. Olayan is Chairman of the Olayan Group, a multi-faceted international group, in the fields of commerce, industry, services and investments.

He replaces the late Mr. Abdullah Al-Hugail, who was a major contributor to the growth of SABB during his years as a member of the Board and as Chairman.

Mr. Richard W.L. Groves becomes Managing Director, effective 16 March 2009, succeeding Mr John Coverdale who is moving to Hong Kong to take up a top level global position in the HSBC Group.

Mr. Groves joined SABB in February 2007 as Chief Operating Officer and Executive Director as well as Chairman of SABB Securities Limited.Immediately before joining SABB Mr. Groves was Chief Executive Officer of HSBC Bank Middle East Limited in Oman.


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